BEIJING, Feb 25 (APP): The Asian Development Bank (ADB) Tuesday signed an agreement for a private sector loan of up to CNY130 million ($18.6 million) to Jointown Pharmaceutical Group Co. Ltd (Jointown) in the People’s Republic of China (PRC). 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 Red Cross in its efforts to respond to the spread of the coronavirus (COVID-19). Jointown is the largest private pharmaceutical distributor in the PRC and is headquartered in Wuhan, the capital of Hubei province and the epicenter of the COVID-19 outbreak. “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 … Continue reading ADB approves a loan to support coronavirus in China