ADB provides Maldives with USD 50m for COVID-19 fight

President of the Asian Development Bank (ADB) and the Chairperson of ADB's Board of Directors, Mr Masatsugu Asakawa.

Asian Development Bank (ADB) has announced that it will be providing the Maldives with USD 50 million as a loan and USD 25 million as aid, to assist in the fight against COVID-19. 

President of the ADB and the Chairperson of ADB's Board of Directors, Masatsugu Asakawa said that the ADB was prepared to assist in the efforts to alleviate the effects of COVID-19 on the national economy, health sector, and social sector. 

This includes efforts to increase budget support, strengthen the health sector, and assist vulnerable groups as well as affected businesses, which was an important task, according to Mr. Asakawa. 

The funds provided by the ADB would be used to establish testing mechanisms in five different regions of the country to increase testing capacity to 800 per day. It will also be used to facilitate 400 more beds for isolation and 200 beds for ICU.  

In addition to this, community safety programs will also be run from these funds. They include allowances for those employees adversely affected.  

ADB has established a USD 20 billion support facility to assist member nations in light of COVID-19.