The Solomon Islands is to receive $US20 million from the Asian Development Bank (ADB) to meet costs associated with Covid-19.
Prime Minister Manasseh Sogavare (right) hands the Economic Stimulus Package document over to the Minister of Finance and Treasury, Harry Kuma. Photo: Solomon Islands Government
No cases have been recorded in the Solomons and the ADB has praised the country for its proactive efforts to stop the coronavirus from breaching its borders.
The funds are to be drawn down as two $US10 million portions comprising a grant and a concessional loan to train nurses and doctors to fight Covid-19, and to obtain personal protective equipment (PPE) for medical staff.
It will also help finance the government's economic stimulus for individuals and businesses.
The Covid-19 pandemic is having a profound impact on exports and the country's tourism industry according to Finance Minister Harry Kuma.
Mr Kuma said the stimulus package will make the Solomons economy more resilient by helping to diversify into agriculture and fisheries.
Prior to disbursing the ADB's Covid-19 Rapid Response Program, the bank provided $US7.8 million ($US4.8 million in grants and a $US3 million concessional loan) in April this year to help the Solomon's health sector respond to Covid-19.