Advertisement

Updated September 15th, 2020 at 23:09 IST

India got loans worth $2.5B from World Bank to support COVID-19 response: Finance Ministry

The World Bank has so far provided three loans worth USD 2.5 billion to the Government of India to support its response to the Coronavirus pandemic.

Finance Ministry
| Image:self
Advertisement

The World Bank has so far provided three loans worth USD 2.5 billion to the Government of India to support its response to the Coronavirus pandemic, the Centre has revealed.

In a written reply to a question in Rajya Sabha on Tuesday, Union Minister of State for Finance, Anurag Thakur, said the global lender provided USD 1 billion for health, USD 0.75 billion for social protection, and USD 0.75 billion for economic stimulus, the benefits of which have accrued to all States and Union Territories.

READ | Amid COVID-19, Extreme Poverty Could Increase To 100 Million: World Bank

READ | Haryana IAS Officer Rajesh Khullar Appointed Executive Director Of World Bank

Breakup of disbursal

Giving more details, Thakur said the first loan relating to health measures worth USD 1 billion was signed on April 3, 2020, to part-finance Centre’s Rs 15,000 crore COVID Health measures to prevent, detect and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness. As on date, USD 502.5 million has been disbursed under the loan.

The second loan relating to social protection measures worth USD 750 million was signed on May 15 as budgetary support to the Centre for ‘Accelerating India's COVID-19 Social Protection Response Programme’ to support relief measures to beneficiaries under Pradhan Mantri Garib Kalyan Package (PMGKP). This loan has been fully disbursed as on date.

The third loan relating to economic stimulus measures worth USD 750 million was signed on July 6 as budgetary support to the Centre in order to support micro, small, and medium enterprises (MSMEs) under Aatmanirbhar Bharat Package (ANBP). This loan has also been fully disbursed as on date. The Washington D.C.-based lender had earlier said it will support the government’s initiatives to protect the MSME sector by infusing liquidity into the market, strengthening NBFCs and Small Finance Banks (SFB), and by enabling financial innovations.

(PTI Photo)

READ | ADB, Centre Ink USD 500 Million Loan For Delhi-Meerut Rapid Transit Corridor

READ | World Bank Approves USD 500 Mn Under STARS Program To Improve Education System In India

Advertisement

Published September 15th, 2020 at 23:09 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

Ravichandran Ashwin
4 minutes ago
Congress leader Mani Shankar Aiyar
6 minutes ago
National Mall, Washington DC
9 minutes ago
Wall Street news
10 minutes ago
mallikarjun kharge, lalu yadav
11 minutes ago
Swiggy
16 minutes ago
Chandrakant Pandit and Gautam Gambhir
18 minutes ago
Erode MDMK MP Ganeshamurthi, 77, Dies in Hospital After Alleged Suicide Attempt At House
20 minutes ago
2000 note
20 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo