ADB Approves $50 Million Support for Maldives' COVID-19 Response
The Asian Development Bank (ADB) today approved a $25 million concessional loan and a $25 million grant to help the Government of Maldives fund its response to the coronavirus disease (COVID-19) pandemic. The COVID-19 Active Response and Expenditure Support (CARES) Program is funded through the COVID-19 pandemic response option (CPRO) under ADB’s Countercyclical Support Facility. CPRO was established as part of ADB’s $20 billion expanded assistance for developing member countries’ COVID-19 response, which was announced on 13 April.