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ADB says $1.5 billion loan 'sufficient' to help Philippines fight COVID-19
ADB says $1.5 billion loan 'sufficient' to help Philippines fight COVID-19
ABS-CBN News
Published Apr 27, 2020 10:53 AM PHT
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Updated Apr 27, 2020 11:11 AM PHT
Residents line up during the distribution of the Social Amelioration Program (SAP) cash assistance at Barangay Calawis in Antipolo, Rizal on April 24, 2020. Jonathan Cellona, ABS-CBN News
MANILA - The Asian Development Bank said Monday its $1.5 billion loan to the Philippines was "sufficient" to fund the nation's large COVID-19 response program.
The amount is the largest for the Philippines and among the biggest approved by the bank, ADB country director for the Philippines Kelly Bird told ANC.
The ADB is also funding COVID-19 testing laboratories in Pampanga, north of the capital, which can test 3,000 people daily, Bird said. Once operational in mid-May, it can help double the country's daily testing capacity, he said.
The Philippines is expected to ramp up mass testing after President Rodrigo Duterte extended the lockdown of Luzon and other high risk areas until May 15.
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