Govt seeks funds from development partners to fight coronavirus
The government is seeking funds from development partners to help the health ministry combat the spread of the novel coronavirus.
On Monday, the officials of the health ministry sat with the Asian Development Bank (ADB) in Dhaka to mobilise resources, as the number of people affected by the deadly virus has kept on rising and the government yesterday confirmed the maiden virus-related death.
"The ADB also wants to know the type of assistance Bangladesh would like to receive," said an official of the health ministry with knowledge of the matter.
Earlier, the Economic Relations Division (ERD) forwarded a proposal to the World Bank for $100 million following a request from the health ministry.
The government is also looking to avail funds from the International Monetary Fund (IMF), which has made available about $50 billion through its rapid-disbursing emergency financing facilities for low-income and emerging market countries that could potentially seek support.
"If the IMF announces funds, it will also give funds to us. The IMF, the World Bank, the ADB and others will give funds," said Finance Minister AHM Mustafa Kamal yesterday.
The finance ministry will help the health ministry in whatever ways possible through funding such that it can carry out its tasks properly and without making any delay, he told reporters after a meeting of the cabinet committee on purchase and economic affairs at the secretariat in Dhaka.
He dismissed the fears that the health ministry is facing fund shortages, saying the government has financial capability and stands ready to help the health ministry to buy any requisite equipment and ramp up logistical support.
"Even if the health ministry needs to set up any purpose-built hospital in a short period of time like China did, I think the honourable prime minister would not say no to finance them."
The health ministry has sought Tk 200 crore from the finance ministry. Yesterday, Kamal and Health Minister Zahid Maleque sat in a meeting at the secretariat. The government earlier gave Tk 50 crore to the health ministry.
The health ministry is now trying to import test kits on its own, said an official.
The government yesterday confirmed a Bangladeshi who had tested positive for coronavirus infection died in the country's first fatal case.
The current number of coronavirus-affected people in the country is 14, said Meerjady Sabrina Flora, the director of Institute of Epidemiology, Disease Control and Research, at a media briefing.
A total of 16 people have been kept in isolation, while 42 are kept in institutionalised quarantine, she added.
Bangladesh relies on imports and donation for testing kits.
The World Health Organisation has already donated kits to Bangladesh and is working to donate more.
China and Singapore are also donating kits and procuring kits is also part of the government plan, Flora said.
The ADB has announced a $6.5 billion initial package to help developing countries in Asia with their immediate responses to the spread of coronavirus.
According to the finance ministry official, the ADB has presence in many countries and assured Bangladesh of using its reach to help the country source testing kits, protective gears for health professionals and equipment for hospitals.
The ADB also wants to know how many hospitals will be dedicated to treating coronavirus-affected patients, Kamal said, adding that the government will inform the Manila-based development lender on Thursday about its needs.
"The whole world is in a danger because of the virus. We are part of the world. It has already arrived in the country. Even if the number [of affected persons is low], we have to admit it. Now, we have to try to keep the number in check because we have had some experience."
When the virus originated in China in December last year, the world's second-largest economy had no experience about it, so it suffered hugely, the minister said.
"Bangladesh would be able to prevent the virus and keep the whole nation safe if everybody does their part. We all have to carry out our responsibilities. It is not the responsibility of the health ministry or the finance minister alone," Kamal added.
Of the IMF fund, $10 billion is available at zero interest for the poorest members through the Rapid Credit Facility, according to the IMF website.
"I am particularly concerned about our low-income and more vulnerable members," said IMF Managing Director Kristalina Georgieva on its website.
These countries may see financing needs rise rapidly as the economic and human cost of the virus escalates.
"Our staff are currently working on identifying vulnerable countries and estimating potential financing needs should the situation deteriorate further," she added.
The IMF has asked the government of Bangladesh to identify areas to avail funds from the package in case there is a lockdown, said an official of the finance ministry.
Globally, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak.
It is expected to provide $100 million to Bangladesh to help the country take preventive measures in the face of global coronavirus pandemic.
The ERD sent the proposal to the WB on Monday and the bank informally assured the government of the fund, Md Shahabuddin Patwary, additional secretary of the ERD, told The Daily Star.
"In Bangladesh, the World Bank has received a request from the ministry of finance for $100 million financing and we will work with the government to process the request," said Mercy Tembon, the WB's country director for Bangladesh and Bhutan.