$1.5 billion ADB loan to fund COVID response

#GS3 #Economy

  • The Government of India has taken a $1.5 billion loan from the Asian Development Bank (ADB) to fund its immediate response to COVID-19, both in terms of the health and socio-economic impacts. 
  • The bank to fund further stimulus measures, including support for Micro, Small & Medium Enterprises and for extending health services through public-private partnerships.
  • The money, translating to more than ₹11,000 crore, will be spent to implement the containment plan and rapidly ramp up the test-track-treatment capacity.
  • This would include support for the MSMEs by facilitating access to finance through credit guarantee schemes, integration into global and national value chains through enterprise development centers, and a credit enhancement facility for infrastructure projects.
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