Aug 07, 2020 Last Updated 5:12 AM, Aug 6, 2020

ADB releases loans, grants for Pacific

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The Asian Development Bank has announced a series of grants to Pacific nations. US$13.3million has been made available to 10 nations—Cook Islands, Kiribati, Marshall Islands, Federated States of Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands,  Tuvalu and Vanuatu—to help finance their COVID-19 responses. This is the latest round of ADB  emergency grans for the Pacific. In April, the ADB provided $2 million from the fund to help FSM, Marhsall Islands, Nauru, Tonga and Tuvalu respond to COVID-19.

Separately, the ADB has approved a $20 million loan to Palau to help it provide for COVID-19 and respond to its impact on the economy. An ADB statement says the loan will finance the purchase of ventilators for Belau National Hospital, establish a COVID-19 hotline for public inquiries, and fund overtime and hazard pay for frontline health workers. It will also support Palau’s government to provide concessional loans to local businesses; benefits for the unemployed and assistance finding temporary work in areas such as tourism, the environment, and elderly care; support for free pre-school and childcare for lower income families; and subsidies for utilities such as electricity and water. Palau received a $15 million policy-based loan from the ADB in April.

The ADB has also approved a separate $20 million grant for Samoa to upgrade isolation rooms in hospitals, strengthen quarantine areas, and procure medical supplies. It will help train frontline workers to prevent infections and support the payment of unemployment benefits, cash transfers, and higher pensions for the elderly. The hospitality industry will receive support through lower electricity tariffs and deferred contributions to the Samoa National Provident Fund. Several measures will target support for women, such as grants for village women’s committees to promote rural health and sanitation practices.

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Last modified on Friday, 31 July 2020 12:30
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