Asian Development Bank announces $20 billion rescue package for developing countries to fight off coronavirus pandemic

In a statement on Monday, the Asian Development Bank announced that it is tripling the size of its rescue package to developing countries in Asia to $20 billion in order to help them cope with the severe macro-economic and health effects of the coronavirus pandemic.

Previously, it had announced a rescue package of $6.5 billion for developing countries in the region.

The additional $13.5 billion includes around $2.5 billion in concessional and grant resources, said ADB.

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