ADB Assures USD 2.2 Bn Covid-19 Support Package

The Asian Development Bank (ADB) has assured the Ministry of Finance of USD 2.2 billion (about Rs 16,500 crore) support to India in its fight against the Covid-19 pandemic.
The World Bank has approved a $1-billion assistance to help India prevent, detect and respond to the outbreak, and strengthen its public health preparedness.
ADB praised the Indian government’s decisive response to the pandemic, including Rs 1.7 lakh crore economic relief package (Pradhan Mantri Garib Kalyan Yojana), which provides immediate income and consumption support to the poor, women, and workers affected by the three-week nationwide lockdown.
ADB is also engaged with the private sector to meet its financing needs during this period.
It is ready to provide further financial assistance and policy advice whenever the situation warrants.
ADB is also planning to consider all financing options available to meet India’s needs, to facilitate swift disbursement of ADB funds including emergency assistance, policy-based loans, and budget support.