The Asian Development Bank (ADB) has approved a US$500 million loans for Indonesia to boost an emergency financing caused by natural hazards and disease outbreaks. The Fund has committed $11.2 billion in grants, technical assistance, loans, and private sector assistance to help its developing members to address the devastating impacts of the pandemic.
The program reflects the priority of addressing climate change and disaster risk mitigation in ADB’ new 2020 – 2024 country partnership strategy for Indonesia. It will complement the Fund’ $1.5 billion COVID-19 Active Response and Expenditure Support Program for Indonesia, which is supporting the government’ response to the pandemic.
In April, the multilateral agency has approved US$1.5 billion in financing to support Indonesia’ efforts to alleviate the impact of the pandemic on public health, livelihoods, and the economy.
Indonesia’ minister of finance, Sri Mulyani Indrawati, commented, that ADB’ support will help the government to mitigate the devastating impact of COVID-19. As known, the country has widened 2020 State Budget deficit to curb the Southeast Asia biggest economy from the epidemic.
