"This pandemic has become a major global crisis. It requires forceful action at national, regional, and global levels,” said ADB President Masatsugu Asakawa. Asawaka stressed that ADB stands ready to provide further financial assistance and policy advice down the road whenever the situation warrants, on top of the $6.5 billion package. ADB will also mobilise about $1 billion in concessional resources through reallocations from ongoing projects and assessing possible needs for contingencies. To provide the support package to DMCs as quickly and flexibly as possible, ADB will seek adjustment in its financing instruments and business processes.

Source: Dhaka Tribune March 18, 2020 13:07 UTC