The
The local currency loan will support Jointown's efforts to ensure a continued supply of essential medicines and personal protective equipment such as protective clothing, gloves, goggles, face masks, and respirators, according to a press statement issued here.
The financing will also support Jointown's cooperation with the
"We are very grateful to ADB for its timely support for Jointown at the frontline of the fight against the COVID-19 epidemic," said the Vice Chairman of Jointown Liu Zhaonian. "With ADB's facility, we will further deliver drugs and urgently needed personal protective equipment to the most severely affected areas".
"This financing will help Jointown to maintain adequate stock of urgently needed medical supplies, antiviral drugs, and personal protective equipment for distribution to hospitals and retail pharmacy outlets," said the Director General of ADB's Private Sector Operations Department
Jointown has been designated by the
Given its experience in warehouse and inventory management, Jointown has been asked to assist the
The financing is ADB's first private sector assistance to support health security and was expedited under a streamlined approval process for small nonsovereign transactions. The two-year loan will complement loans already provided to Jointown by PRC financial institutions. It is part of ADB's broader response to the COVID-19 outbreak, which was initiated on 7 February with
© Pakistan Press International, source