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India gets USD 2.5 bn COVID-19-related WB loan

By TIOL News Service

NEW DELHI, SEPT 16, 2020:THE World Bank has so far provided three loans worth USD 2.5 billion to Government of India to support Government of India's response to COVID-19 pandemic situation for health (USD 1 billion), for social protection (USD 0.75 billion) and for economic stimulus (USD 0.75 billion), the benefits of which have accrued to all States and UTs. This was stated by Mr Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha yesterday.

Giving more details, Mr Thakur said that the first loan relating to health measures worth USD 1,000 million was signed on 3 rd April, 2020 to part finance Government of India'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 15 th May, 2020 as budgetary support to Government of India 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 6 th July, 2020 as budgetary support to Government of India in order to support MSMEs under Aatma Nirbhar Bharat Package (ANBP). This loan has also been fully disbursed as on date.


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