Corona Virus: World Bank Approves USD 1 Billion Loan
New Delhi: The World Bank on Friday approved a USD 1 billion loan to support India’s efforts for providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.
The “Accelerating India’s COVID-19 Social Protection Response Program” will support the government’s efforts towards a more consolidated delivery platform – accessible to both rural and urban populations across state boundaries.
This takes the total commitment from the World Bank towards emergency COVID-19 response in India to USD 2 billion.
A USD 1 billion support was announced last month towards immediate support to India’s health sector.
The multilateral lending agency is also in discussions with the government to provide assistance to India’s micro, small and medium enterprises, said World Bank Country Director in India Junaid Ahmad in a webinar with media.
The response to the COVID-19 pandemic around the world has required governments to introduce social distancing and lockdowns in unprecedented ways, he said.
