ADB approves 1.5-bln-USD loan for Indonesia to curb COVID-19 outbreak

21:11 | 24/04/2020
The Asian Development Bank (ADB) on April 23 approved a loan of 1.5 billion USD to support Indonesia's efforts to cushion the impacts of COVID-19.
adb approves 15 bln usd loan for indonesia to curb covid 19 outbreak
A medical worker checks body temperature of a citizen in north Sumatra, Indonesia (Photo: Xinhua/VNA)

The loan will help Indonesia finance measures to mitigate the impacts of the pandemic on public health, livelihoods and the economy, ADB President Masatsugu Asakawa said in a statement.

ADB's budget support aims to help the Indonesian government address the challenges posed by COVID-19, with a strong focus on the poor and vulnerable, including women.

The quick-disbursing financing for Indonesia is part of a larger support package ADB will provide to help Indonesia respond to COVID-19.

The loan for Indonesia is part of ADB's rescue package of 20 billion USD to assist developing nations in Asia to mitigate risks of the pandemic.

This is also part of a loan worth 7 billion USD the ADB, World Bank and Asian Infrastructure Investment Bank (AIIB) have provided for Indonesia in the fight against COVID-19.

Indonesia’s economy is expected to rise 2.5 percent this year compared to 5.02 percent in 2019, the lowest recorded in decades.

VNA

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