(MENAFN- Khaama Press)
Asian Development Bank on Wednesday approved $100 million in aid to the Afghan government in its fight against COVID-19.
ADB's president Masatsugu Asakawa said in statement, '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,'.
'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'.
Afghanistan economic outlook deteriorated extremely during the Pandemic, business lockdowns, market downturn in regional trade and remittance, according to forecasting analysis by ABD GDP in the country will reduce by 5.0%, and about 250,000 micro, small and medium-sized enterprises, that covers 80% of nonagricultural employment, is hit hard, there will be 37.9% rise in the rate in 2020, from 23.9% in 2019.
Food disruptions spikes rising its prices in the market, budget deficit has tripled up to 3%.
Poverty is expected to reach up to 72% this year from 55% in 2017, with an additional six million people falling into poverty, to mitigate adverse impacts of the pandemic $633.9 million is rolled out for comprising health, social protection, and macroeconomic measures.
CARES program has several aspects that include gender-sensitive public awareness for tackling COVID19, improving capacity of medical facilities, gender-sensitive treatment facilities, medical supplies and equipment. It will support the government in daily bread assistance to 310,000 needy households, water, electricity bill coverage for at least 350,000 households, coverage to 130,000 pensioners and their female heirs, provision of 78$ to 41,500 internally displaced refugees, remuneration packages for 32,570 disabled people and those whose families were killed in conflict.
The grant will support stabilize state-owned enterprises, employment, agriculture sectorial development, and MSMEs to support tax exemptions, subsidized lending, vocational training and market access.
Grant measures will promote good governance, anticorruption, M & E at ministry of finance, electronic tracking of funds at MoF, pandemic spending at Supreme Audit Office.
ABD earlier supported the Afghan government in strengthen debt management and monitoring of fiscal risks, project management capacity building, procurement systems and safeguards compliance.
CARES program is funded through CPRO- COVID-19 Pandemic response option under countercyclical support facility of ADB.
CPRO was established in April for developing member countries' pandemic response, as part of 20 billion dollar expanded assistance.
ADB previously provided Afghanistan with $40 million emergency assistance. Supporting the construction of 15 and rehabilitation of 5 hospitals and medical facilities, aiding 1,100 new hospital beds; procurement of urgent medicines, medical supplies, and equipment, training of at least 3,000 health workers, including 900 women, in COVID-19 surveillance, prevention, and treatment.
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