Original disclosure @ ADB website
Updated in EWS May 19, 2020
Disclosed by Bank May 4, 2020
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According to ADB website, the Program will support the Royal Government of Bhutan's fiscal and monetary measures under the Economic Contingency Plan (ECP), comprising three broad approaches: (i) social relief, (ii) fiscal and monetary measures, and (iii) targeted interventions. The CARES Program aims to provide critically needed assistance to the Kingdom of Bhutan in mitigating immediate adverse effects of COVID-19 on businesses and the population, especially the women and vulnerable groups. The expenditure plan of the program has a strong gender focus including loans with 3-month deferred payments and micro loans at concessional rates targeting women and cottage and small industries.
Executing Agency: Ministry of Finance
Royal Government of Bhutan
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main