- Supporting COVID-19 response in Pakistan
Supporting COVID-19 response in Pakistan
The OPEC Fund has approved a public sector loan of U$50 million to support COVID-19 response efforts in Pakistan. The loan was approved via the OPEC Fund’s fast-track process, adopted to ensure finance reaches those who need it most, quickly and effectively.
The loan will help finance the government’s program to strengthen health infrastructure and social safety nets and provide a counter-cyclical fiscal stimulus. This will include the provision of COVID-19 testing kits and protective equipment, cash assistance to 12 million families and daily wage workers in the industrial sector who lost their jobs, the purchase of 8.2 million tons of wheat, subsidies for agricultural businesses and SMEs, and financing for industry and exporters.
Co-financiers include the Asian Development Bank, the Asian Infrastructure Investment Bank, the International Monetary Fund, the World Bank and bilateral donors.