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Coronavirus: ADB sanctions $1.5 billion loan to India to combat COVID-19

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

twitter-logoPTI | April 28, 2020 | Updated 16:19 IST
Coronavirus: ADB sanctions $1.5 billion loan to India to combat COVID-19

The Asian Development Bank (ADB) on Tuesday said it has approved USD 1.5 billion loan to India to help fund its fight against coronavirus pandemic. The loan has been sanctioned with a view 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 programs and ensure that they provide effective support to the people of India, especially the poor and vulnerable," Asakawa said in a statement.

INDIA CORONAVIRUS TRACKER: BusinessToday.In brings you a daily tracker as coronavirus cases continue to spread. Here is the state-wise data on total cases, fatalities and recoveries in one comprehensive graphic

Also read: Coronavirus India Live Updates: Karnataka eases lockdown, opens shops in green zones; COVID-19 cases-29,435

Also read: Coronavirus: ADB triples COVID-19 response package size to $20 billion

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