The donation would be a first as India has so far not taken funds from foreign state-run entities
In the first such donation of its kind, Russia’s State-owned defence exports company Rosoboronexport has committed $2million (₹15.3 crore) to the newly set up ‘PM CARES Fund’.
The proposed donation to the fund that has been set up specially to assist the government’s efforts in combating the COVID-19 pandemic, marks a significant shift in India’s policy on accepting contributions from foreign government owned companies.
Thus far, the government had been only open to contributions from “NRIs, PIOs and international entities such as foundations”.
Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund, putting aside the ‘Prime Minister’s National Relief Fund (PMNRF)’, was launched on March 28.