According to the Bank’s website, the program will support the implementation of the government's countercyclical measures, targeting the poor and vulnerable while meeting financing needs. The effect of the program will be: adverse socioeconomic effects of the shocks mitigated, and resilience of poor and vulnerable groups enhanced. The program will contribute to the government's efforts to contain inflation within reasonable limits through fiscal interventions. It targets the provision of social assistance and protection until March 2023 to ensure that more than 500,000 poor and vulnerable households (of whom at least 40% are headed by women) benefit from at least one economic assistance program under the government's Anti-Crisis Action Plan, and therefore prevent them from falling deeper into poverty because of a higher cost of living. At least 186,000 MSMEs are expected to remain in business, of which at least 20% are owned by women. The program has three reform areas: (i) increased social assistance measures implemented, (ii) increased food security measures implemented, and (iii) enhanced support for business entities and measures to safeguard employment implemented.
Syed Ali-Mumtaz H. Shah
Principal Financial Sector Specialist / Asian Development Bank
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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.