JAKARTA/MANILA, April 23 (Xinhua) -- The Asian Development Bank (ADB) on Thursday approved a 1.5-billion-U.S. dollar loan to support Indonesia's efforts to cushion risks of the novel coronavirus (COVID-19) spread, the Manila-based lender said in a statement.
The loan will help Indonesia finance measures to mitigate the impact of the pandemic on public health, livelihoods and the economy.
"COVID-19 has had a devastating health, social, and economic impact on Indonesia. I commend the government on its response to the pandemic, including strong and well-coordinated economic and fiscal measures," ADB President Masatsugu Asakawa said in a statement.
"ADB's budget support will help the government address the challenges posed by COVID-19, with a strong focus on the poor and vulnerable, including women."
"The quick-disbursing financing is part of a larger support package ADB will provide to help Indonesia respond to COVID-19, in close coordination with other development partners," Asakawa added.
The loan for Indonesia is part of ADB's rescue package of 20 billion U.S. dollars to assist developing nations in the Asian region to mitigate risks of the pandemic.
The pandemic has disrupted Indonesia's economy as it has dragged down the country's exports and imports of raw materials and capital goods, and ravaged the tourism sector.
The virus has killed 647 people and infected 7,775 across the vast archipelagic country where partial lockdowns have been imposed in some cities, including its capital of Jakarta, to help contain the pandemic, the Health Ministry said on Thursday. Enditem
