ADB triples financial aid for members to $20 billion to fight virus

The Asian Development Bank said it has also approved measures to streamline its operations for quicker and more flexible delivery of assistance

The Asian Development Bank (ADB) on Monday said it has tripled the size of its Covid-19 response package for its member nations to $ 20 billion.

The multilateral funding agency said it has also approved measures to streamline its operations for quicker and more flexible delivery of assistance.

The package expands ADB's $6.5 billion initial response announced on March 18, adding $ 13.5 billion in resources to help its developing member countries counter the severe macroeconomic and health impacts caused by Covid-19, it said in a release.