Rs 22 Crore granted by ADB to India for COVID 19
The multilateral funding agency, Asian Development Bank, has approved $3 million (About Rs 22 Cr) grant to India from its Asia-Pacific Disaster Response Fund to strengthen the emergency response of the government to combat the COVID 19 pandemic in the country.
This grant is financed by the Japanese government and it will primarily be used for procurement of thermal scanners and essential commodities in the country to further make the response of the country to the COVID 19 pandemic stronger and more effective.
In April, ADB had granted $1.5 billion to India from the COVID 19 Active Response and Expenditure Support (CARES) program to support India in its immediate combat efforts against the COVID 19 pandemic. This includes disease containment and prevention and social protection measures for the poor and economically vulnerable, particularly women and disadvantaged groups.
CARES Program
It was established as part of the $20 billion expanded assistance of the ADB for the pandemic response of the developing countries. This was announced in April and it is funded through the COVID 19 Pandemic Response Option (CPRO) under the Counter-Cyclical Support Facility of the ADB.
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Month: Current Affairs - July, 2020