Russian firm to donate $2 mn to PM CARES

#GS2  #InternationalRelations

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.
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