The Asian Development Bank (ADB) on Wednesday approved a $100 million grant to help the government of Afghanistan respond to the coronavirus disease.
“ADB reaffirms its full commitment to supporting Afghanistan in its fight against COVID-19 and reducing the adverse impact of the pandemic on the lives of Afghans and the economy,” said ADB President MasatsuguAsakawa.
“The assistance will help strengthen the health system, expand social protection for the poor and vulnerable population while ensuring gender mainstreaming, and support macroeconomic stabilization and job creation in Afghanistan,” he was quoted as saying in a press release.
Afghanistan’s economic outlook has deteriorated during the COVID-19 pandemic because of business lockdowns, a sharp drop in household incomes, and a downturn in regional trade and remittances. ADB forecasts Afghanistan’s gross domestic product (GDP) to contract by 5.0% this year.