Govt & ADB sign $1.5 bn loan to support immediate response on COVID-19

NEW DELHI: Government of India and the Asian Development Bank (ADB) has signed $1.5 billion loan to support immediate priorities that can help fight COVID-19.

This includes disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the society, especially women and disadvantaged groups, according to a press release.

https://twitter.com/FinMinIndia/status/1255096937243537410

“We thank ADB’s timely assistance for the government’s immediate response measures to the coronavirus pandemic to implement (i) COVID-19 containment plan to rapidly ramp up test-track-treatment capacity, and (ii) social protection for the poor, vulnerable, women, and disadvantaged groups to protect more than 800 million people over the next three months,” said ShriSameer Kumar Khare, Additional Secretary (Fund Bank and ADB), in the Department of Economic Affairs in Ministry of Finance. “ADB’s financial and technical support will contribute to the sound implementation of the government’s far reaching emergency response programs launched in March 2020.”

“ADB is glad to support India’s bold measures to contain the COVID- 19 pandemic outbreak while protecting the most vulnerable people affected by movement restrictions, by fast-tracking and delivering the largest ever loan to India. We will continue to engage with the government to strengthen the implementation framework and capacities including monitoring and evaluation systems of its health services and social protection programmes so that the benefits reach to the poor, women, and other disadvantaged people,” said Kenichi Yokoyama, Country Director, ADB, in India.

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