Business

ADB approves $1.5 billion loan to India to fight COVID-19

ADB president Masatsugu Asakawa. | File

ADB president Masatsugu Asakawa. | File  

The loan has been sanctioned to support immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections

The Asian Development Bank (ADB) on Tuesday said it has approved $1.5 billion loan to India to help fund its fight against coronavirus pandemic.

The loan has been sanctioned to support immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections.

It is fully committed to supporting the Indian government in its response to this unprecedented challenge, said ADB president Masatsugu Asakawa.

“The quick-disbursing fund is part of a larger package of support that ADB will provide in close coordination with the government and other development partners.

“We are determined to support India’s COVID-19 response programmes and ensure that they provide effective support to the people of India, especially the poor and vulnerable,” Asakawa said in a statement.

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Printable version | Aug 4, 2020 11:35:03 AM | https://www.thehindu.com/business/adb-approves-15-billion-loan-to-india-to-fight-covid-19/article31453219.ece

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