Government of India & AIIB sign agreement
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The Government of India and the Asian Infrastructure Investment Bank (AIIB) signed a US$ 500 million “COVID-19 Emergency Response and Health Systems Preparedness Project” here today to help India to respond to the COVID-19 pandemic and strengthen its public health preparedness. This is the first ever health sector support from the Bank to India.
- This new support will cover all States and Union Territories across India and address the needs of infected people, at-risk populations, medical and emergency personnel and service providers, medical and testing facilities, and national and animal health agencies.
- The primary project beneficiaries will be infected people, at-risk populations, medical and emergency personnel, service providers at medical and testing facilities (both public and private), and public and animal health agencies engaged in India’s COVID-19 response.
- The project will enable the Government of India to slow and limit as much as possible the spread of COVID-19 in India by providing immediate support to enhance disease detection capacities by scaling up procurement of PPE, oxygen delivery systems, and medicines, build resilient health systems to provide core public health, prevention, and patient management functions to manage COVID-19 and future disease outbreaks, support research on COVID-19 by Indian and other global institutions working in collaboration with the Indian Council of Medical Research, address significant negative externalities expected in the event of a widespread COVID-19 outbreak and strengthen public structures for the coordination and management of the project.
- The project is being financed by the World Bank and AIIB in the amount of $1.5 billion, of which $1.0 billion will be provided by World Bank and $500 million will be provided by AIIB.
- The project will be implemented by the National Health Mission (NHM), the National Center for Disease Control (NCDC) and the Indian Council of Medical Research (ICMR) under the Ministry of Health and Family Welfare.