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Economy

Asian Development Bank triples coronavirus war chest to $20bn

Governments get the most, but companies can access $2bn in financial aid

A restaurant closed due to the coronavirus outbreak is seen next to the Chao Phraya river with a view of Wat Arun temple, one of the city's top tourist spots, in Bangkok, Thailand March 27.   © Reuters

MANILA -- The Asian Development Bank on Monday tripled its fund to fight the coronavirus outbreak to $20 billion, as the regional economy faces deepening fallout from the pandemic.

Around $18 billion is earmarked for governments, many of which are readying massive stimulus programs to support their economies during the crisis, while the rest can be accessed by the private sector.

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