Immediate assistance of US $ 2.2 billion to India

ADB approves $ 1.5 billion loan to India

The Asian Development Bank (ADB) on Tuesday approved a US $ 1.5 billion loan to help fight against the corono virus epidemic. The loan has been approved to support immediate priorities along with disease and prevention and social security for the economically weaker sections.

ADB President Matsugu Asakawa said that we are fully committed to support the Government of India to meet this unprecedented challenge. He said that in this critical situation, we are preparing to provide immediate assistance of US $ 2.2 billion to help the poor, workers and small and medium industries and others economically affected.

A statement issued by the ADB headquarters in Manila stated that the COVID-19 Active Response Expenditure Support (CARES) program will contribute directly to improving access to health facilities and care. It also includes social security for over 800 million people. It also includes a family of people from the lower strata. He said that through this program, help will also be provided to the poverty line, farmers, health care workers, women, senior citizens, disabled people, low paid workers and laborers.