ADB announces $6.5 billion package for member countries to tackle COVID-19

Manila-based Asian Development Bank recently announced an initial package of $6.5 billion (equivalent to ₹48,230 crore) to cater the immediate needs of its developing member countries in fighting the Covid-19 pandemic.

As per the announcement of the Development bank, out of the total package, 3.6 billion will be made available to governments for addressing health and economic consequences of the pandemic and 1.6 billion for micro, small and medium enterprises, domestic and regional trade.