About: http://data.cimple.eu/news-article/299de0e5c5460b8580ee601fce58f7fa4c0dfec5531216adf41c3559

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About: http://data.cimple.eu/news-article/299de0e5c5460b8580ee601fce58f7fa4c0dfec5531216adf41c3559 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	The Asian Development Bank said Monday it will roll out a massive $20 billion package to help developing member nations weather the economic fallout from the coronavirus pandemic. The fund represents the tripling of a package announced just a month ago, which the ADB decided to boost as the scale of the contagion's impact has mushroomed. Nearly simultaneous shutdowns across the global economy, with workers ordered to hunker down at home against the virus, have set the stage for a deep recession. Officially reported COVID-19 cases worldwide have topped 1.8 million and claimed around 115,000 lives globally. "The scope and the scale of the crisis make it imperative for the ADB to expand its support," bank president Masatsugu Asakawa said in a video statement. Up to $13 billion in loans will be made available to help virus-hit developing members fill in budget gaps, with another roughly $2 billion set for the private sector. Developing members of the bank range from Afghanistan and Myanmar to India and China. The ADB warned earlier this month the pandemic could cost the global economy $4.1 trillion as it ravages the United States, Europe and other major economies. Markets have been sent spinning as traders fret over the crisis's long-term impact, though governments and central banks have stepped in to ease the pain, pledging trillions to prop up economies. jm/tom
schema:headline	ADB announces $20 bln virus rescue package
schema:mentions	Fret Asian Development Bank Recession Myanmar Afghanistan European Union Pandemic Virus India United States China Coronavirus Coronavirus disease 2019 Masatsugu Asakawa Norfolk Scope Barnburners and Hunkers Imperative programming Suffering
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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