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