Bhutan has developed an Economic Contingency commit to mitigate the impact of the pandemic through a pro-poor countercyclical support package. The stringent measures to contain the spread of COVID-19 have resulted in an unexampled decline in economic activity, together with a standstill in trade, particularly touristry that contributes 13 to the country’s gross domestic product.
An estimated 11,800 staff within the touristry and allied industries, like airlines, hotels, restaurants, and tour operators, are expected to be adversely affected.
As an emergency response, ADB approved a grant of $100,000 on 27 March to support Bhutan in enhancing its capability to prevent, detect, and respond to the COVID-19 Pandemic. The grant was used to procure medical provides and personal protective instrumentation for health care staff. On 25 April, ADB allotted a further $1.07 million grant for procuring urgently required personal protecting instrumentation and intensive care unit instrumentation.
The Asian Development Bank (ADB) today approved a $20 million loan to support Bhutan’s efforts to stimulate the economy, shield public health, and mitigate the consequences of the novel coronavirus illness (COVID-19) pandemic on its individuals.
The COVID-19 Active Response and Expenditure Support (CARES) Program can contribute to the government’s measures to mitigate the immediate adverse effects of the pandemic on the population and businesses. this may be achieved through living support and relief measures for vulnerable teams, together with displaced staff, individuals folks actively seeking employment, and self-employed people within the informal sector, most of whom are women. The program also will support the government’s countercyclical measures and economic stimulation for the productive sectors.
