CPRO was established as part of ADB’s $20 billion expanded assistance for developing member countries’ response to the pandemic, which was announced on 13 April. The loan is expected to benefit over 15 million poor and vulnerable people in Bangladesh, the ADB said in a statement. Affected industries and sectors, as well as micro, small, and medium-sized enterprises are also eligible for loans with subsidized interest. The Asian Infrastructure Investment Bank (AIIB) is planning to provide $250 million in cofinancing with ADB to support the government’s programme. Bangladesh has taken prompt actions to control the spread of the disease and manage its impact on health, welfare, and the economy under its COVID-19 response plan, the ADB noted.

Source: bd News24 May 07, 2020 10:07 UTC