ADB announces $20 bn rescue package to help developing countries in Asia
Asian Development Bank (ADB) has announced twenty billion dollars rescue package to help developing countries in Asia to counter coronavirus pandemic.
The ADB on Monday said it was tripling the size of its rescue package in the region for their immediate responses to contain the spread of the new coronavirus.
Meanwhile, the World Bank has forecast worst economic slump in South Asia region in 40 years due to the coronavirus.
The World Bank in its South Asia Economic Focus report, said that the South Asian region, comprising eight countries, is likely to show economic growth of 1.8% to 2.8% this year.
The report warned that in prolonged and broad national lockdowns, a worst-case scenario in which the entire region would experience an economic contraction this year.
Prime Minister Imran Khan has appealed to the overseas Pakistanis to donate generously in ‘PM Relief Fund for COVID-19’ to cope with the global challenge of coronavirus pandemic.
In a video message, PM Imran said the entire world was struggling against the Coronavirus pandemic, which led to the lockdown. He said the lockdown had adversely affected the world economy, including Pakistan, resulting in growing poverty across the globe. He said in the wake of growing economic difficulties, we needed more money in the relief fund so the overseas Pakistanis should come forward to contribute in this regard.
The prime minister said that the United States, with a population of 300 million people, had allocated 2.2 trillion dollars, while Germany and France, having a population of less than Pakistan, earmarked one trillion dollars each to provide a relief to their people.
While on the other hand, Pakistan can only manage just eight billion dollars for the relief fund and in such a situation, we wanted overseas Pakistanis to donate generously, he added.
Imran Khan also expressed the confidence that with the help and cooperation of Pakistani youth, Corona Tiger Force, and overseas Pakistanis we will succeed in the jihad against coronavirus.