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| India signs USD 1.5 billion loan with ADB to support India’s COVID-19 immediate response: Highlights with Details |
India signs USD 1.5 billion loan with ADB to support India’s COVID-19 immediate response: Highlights with Details
The Government of India and the Asian Development Bank (ADB) signed a $1.5 billion loan that will support the government’s response to the novel coronavirus disease (COVID-19) pandemic, focusing on immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the society, especially women and disadvantaged groups.
The MoU Signed by:
The signatories to the loan agreement for the ADB’s COVID-19 Active Response and Expenditure Support Programme (CARES Programme) were Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), in the Department of Economic Affairs in Ministry of Finance, and Kenichi Yokoyama, Country Director, ADB, in India.
The ADB’s Board of Directors approved the loan to provide budget support to the government to counter and mitigate the adverse health and socio-economic impact of the pandemic.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members 49 from the region.
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