ADB approves $2 million funding for nCoV tests

MANILA, Philippines — The Asian Development Bank (ADB) has approved $2 million in new funding to support efforts to combat the spread of the novel coronavirus (nCoV).

The Manila-based multilateral bank said the funds will supplement an ongoing regional technical assistance and strengthen response capacity in Cambodia, the People’s Republic of China, the Lao People’s Democratic Republic, Myanmar, Thailand and Vietnam.

The assistance will fund the development of recommendations for improved outbreak investigation and surveillance, including in rural areas, and the strengthening of health systems’ resilience and capacity for epidemic response.

It will also support the supply of diagnostic and laboratory equipment for rapid testing to help combat the outbreak.

“ADB has a track record of providing rapid and targeted support to our members in emergency situations,”? said ADB president Masatsugu Asakawa. “We stand ready to provide further assistance as required.”

ADB said it is collaborating closely with World Health Organization officials and other regional experts to identify areas for coordinated responses and possible further financial assistance to respond to the 2019-nCoV situation.

The bank said additional technical assistance is under preparation to help other developing member countries improve key economic and health systems, including disease surveillance, provision of medical supplies, outbreak response plans and regional cooperation.

Where needed, support may include the procurement of medicines and medical equipment. Other activities may include economic and health system assessments to improve understanding of the economic impacts and the design of appropriate response measures.

ADB said its economists are looking at the impact that the virus could have on the region’s economies, including through channels such as tourism, consumption, trade and supply chains.