Critical stage to mitigate Covid impact, says ADB

Husain Haider / Khmer Times Share:
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Southeast Asia is entering a critical stage to “accelerate employment recovery” as the pandemic shows no signs of abating amid the onset of new variants, according to the Asian Development Bank (ADB).

Through various assistance programmes, ADB has deployed some $20 billion across the region through its Covid-19 Pandemic Response Option (CPRO) since April 2020, said Ayoko Inagaki, director of human and social development at ADB’s Southeast Asia Regional Department.

Inagaki is charged with overseeing ADB’s portfolio in Southeast Asia. She said it is “critical to accelerate employment recovery, including through reforms, to encourage firms to create quality jobs and help workers prepare for the post-Covid-19 economy”.

“Until early 2021, Cambodia, the Lao People’s Democratic Republic, Thailand, and Vietnam had managed to contain the spread of the virus. All four countries have reported a surge in Covid-19 cases in recent months,” added Inagaki.

The CPRO loans for Indonesia and the Philippines, at $1.5 billion each, were approved in April 2020, followed by loans for Thailand in June 2020, Cambodia in July 2020, and Myanmar in August 2020.

“ADB is also supporting vaccine programmes through its $9 billion Asia Pacific Vaccine Access Facility, which was announced in December 2020 to help its member countries procure safe, effective Covid-19 vaccines,” Inagaki said.

In its attempt to help mitigate the impact of the pandemic, ADB in February last year approved a $2 million grant under the Greater Mekong Subregion Health Security Project.

Inagaki said the initiative helped to “secure critical medical equipment and strengthen regional cooperation on disease.

 

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