ADB َ Approves $100m Grant for Afghanistan Covid-19 Response
The Asian Development Bank (ADB) on Wednesday approved a $100 million grant to help the government of Afghanistan respond to the coronavirus disease.
“ADB reaffirms its full commitment to supporting Afghanistan in its fight against #COVID-19 and reducing the adverse impact of the pandemic on the lives of Afghans and the economy,” said ADB President #MasatsuguAsakawa.
“The assistance will help strengthen the #health_system, expand social protection for the poor and vulnerable population while ensuring gender mainstreaming, and support macroeconomic stabilization and job creation in Afghanistan,” he was quoted as saying in a press release.
#Afghanistan’s economic outlook has deteriorated during the COVID-19 pandemic because of business lockdowns, a sharp drop in #household_incomes, and a downturn in regional trade and remittances. ADB forecasts Afghanistan’s gross domestic product (GDP) to contract by 5.0% this year.