ADB triples rescue package to $20 billion for developing members to fight coronavirus

MANILA (Reuters) – The Asian Development Bank [ADB.UL] announced on Monday it was tripling the size of its rescue package to $20 billion to help developing countries in Asia counter the severe macroeconomic and health effects of the coronavirus pandemic.

It previously announced an initial $6.5 billion in financial support to developing countries in the region for their immediate responses to contain the spread of the new coronavirus.

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