China earmarks $10 million from its ADB Trust Fund to address COVID-19 challenges in developing Asia

China has earmarked 10 million dollars (about Rs 77 crore) in its poverty reduction and regional cooperation fund to support the Asian Development Bank (ADB) in assisting its developing member countries to address their novel coronavirus disease (COVID-19) challenges.

China has earmarked 10 million dollars (about Rs 77 crore) in its poverty reduction and regional cooperation fund to support the Asian Development Bank (ADB) in assisting its developing member countries to address their novel coronavirus disease (COVID-19) challenges. The funds will provide support to a broad range of operations, including not only the purchase of medical supplies and equipment but also health sector reforms and development, as well as capacity building, training and knowledge sharing.

"As ADB continues to formulate a quick and flexible set of financing commitments to its developing member countries, this funding support from the China government will further help countries in implementing their pandemic responses," said Director General of ADB's Sustainable Development and Climate Change Department Woochong Um. "It will also help promote better coordination regionally to prevent and respond to disease outbreaks," he said in a statement on Friday.

Some 8 million dollars was added to the 2 million dollars approved by the China government on April 8 to help in the procurement of needed medical supplies as well as in capacity building for medical staff in developing member countries, and development and dissemination of regionwide risk communication materials to address public fears over the COVID-19 pandemic.