Asian Development Bank Loan to Pakistan
7th August 2021.
Masatsugu Asakawa president of Asian Development Bank said in a statement that the loan of $500 million for Pakistan to assist it with obtaining Covid-19 immunizations and fortify the country’s ability to carry out its inoculation program has been approved by the ADB on Friday under the program launched by ADB in December 2020 the $9 billion Asia Pacific Vaccine Access Facility.
This project and loan will assist Pakistan to carry out a vaccination program in the country. It will help the country to buy approximately 39.8 million doses of Covid Vaccine along with clean syringes and safety boxes.
The chief of the Asian Development Bank mentioned that this program is developed to point toward offering fast and fair vaccines and immunization-related help to its developing nations. The chief likewise added that the vaccination process help in reducing the casualties due to covid-19 and helps in strengthening nations spirit and economy.
The chief also mentioned that this program will help in reducing the covid cases in vulnerable parts of Pakistan. The program will assist Pakistan to work on the covid situation in slum areas of the country. He likewise mentioned that the main goal of this is to support and aid the developing countries. This program will further help in uplifting the socio-economic and health sector of the country.
The chief ensured full support from Asian Development Bank to Pakistan likewise. Asakawa underlined that the public authority was intending to inoculate the whole qualified population around 119 million individuals including 18 years old or more while focusing on front line warriors like medical services, laborers, the older, the refugees, and internally displaced people from the country.
Last year in May, ADB sanctioned the emergency assistance of $300 million to Pakistan to support the health care sector in the country. Also in June 2020, the Asian Infrastructure Investment Bank (AIIB) had supported a $500 million advance to the country, co-subsidized by ADB for a helpless group of the country. The public authority of Norway had additionally donated $5.28m for Pakistan’s Covid-19 reaction last year, which was managed by the ADB.
Please contact the Legal Research Institute of Pakistan for further assistance.