Regional Director Masayuki Tachiiri. [File Photo]

A $430m Budget Support Package has been approved by the Asian Development Bank to help the government with its COVID-19 response efforts.

Regional Director Masayuki Tachiiri says the focus is on the private sector as it drives the economy.

Tachiiri says the multimillion-dollar package from the ADB is meant to stimulate private sector activity to get it up and running again.

“That is to support the government’s COVID-19 response and also the underline and support for the policy change to have a better environment for the business investment and also the starting of the new business.”

Tachiiri says setting up a firm foundation to help the recovery of our economy is crucial.

He adds this has been done government by stimulating the economy with tax reductions, assistance to entrepreneurs and new businesses.

The private sector has been urged to make use of these benefits.