ADB approves USD 1.5 bn loan to India to fight COVID-19

The Asian Development Bank on Tuesday said it has approved a USD 1.5 billion (about Rs 11,400 crore) loan to India to help fund its response to the novel coronavirus pandemic, including support for immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections

ADB is fully committed to supporting the Government of India in its response to this unprecedented challenge, ADB President Masatsugu Asakawa said

"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 programs and ensure that they provide effective support to the people of India, especially the poor and vulnerable," Asakawa said in a statement.