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COVID-19 Financing and Development Pathways: Initial Reflections from the Asian Development Bank

COVID-19 and the economic crisis it unleashed have spurred unprecedented action from governments and international institutions. Multilateral development banks (MDBs) like the Asian Development Bank (ADB) swiftly committed resources to COVID-19 response and recovery efforts in 2020 and 2021, including a $20 billion countercyclical support facility and a $9 billion facility specifically for COVID-19 vaccine procurement and vaccination program implementation.