ADB Assures $2.2 Billion Support Package To India For Covid-19 Response
A family wearing face masks walk along a road in Mumbai, during the nationwide lockdown, on April 9, 2020. (Photographer: Kunal Patil/PTI)

ADB Assures $2.2 Billion Support Package To India For Covid-19 Response

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Asian Development Bank President Masatsugu Asakawa on Friday assured Finance Minister Nirmala Sitharaman of $2.2 billion (about Rs 16,500 crore) support to India in its fight against the Covid-19 pandemic.

In a call, Asakawa commended the Indian government’s decisive response to the pandemic, including a national health emergency programme, tax and other economic relief measures provided to businesses and the poor.

“ADB is committed to supporting India's emergency needs. We are now preparing $2.2 billion in immediate assistance to the health sector and to help alleviate the economic impact of the pandemic on the poor; informal workers; micro, small, and medium-sized enterprises; and the financial sector,” Asakawa said.

Also read: Government May Announce Second Stimulus Package Worth Over Rs 1 Lakh Crore: BofA Securities

ADB is also engaged with the private sector to meet its financing needs during this period, ADB said in a statement.

ADB assistance for India will be further increased if needed. We will consider all financing options available with us to meet India’s needs, including emergency assistance, policy-based loans, and budget support to facilitate swift disbursement of ADB funds.
Masatsugu Asakaw, President, ADB
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