ADB Approves $250m COVID Loan to Papua New Guinea

ADB said its program will the government finance and implement its $769-million pandemic response plan that includes an economic stimulus package.

PNG declared a state of emergency on 21 March and the subsequent public health emergency, closure of its borders, lockdowns, and other response measures have put pressure on the country’s health system and economy.

Among ADB’s Pacific developing members, only PNG is currently affected by community transmission of the pandemic.

“COVID-19 has had a devastating health, social, and economic impact on PNG,” said ADB President Masatsugu Asakawa. “ADB is committed to supporting the government in responding to this pandemic. These funds will help in containing the health and economic impact of the pandemic by strengthening the country’s health sector and providing much-needed budgetary support for revitalizing the economy.” Read more…..


Chart of the Day

Icarus TV

A vaccine for covid-19 could be rolled out before the end of the year. But a worrying rise in mistrust of vaccines threatens its effectiveness.

Share This Post

Leave a Reply