Asian Development Bank’s Big Help To India

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Coronavirus is rapidly spreading in the whole world. India too is witnessing the ravages of this deadly virus. In the last 24 hours more than 1900 cases have been reported.

In such a situation, demand for hospitals, quarantine centres, surgical masks, PPE kit and other things is continuously increasing. It is also to be noted that coronavirus cases in medical officials, policemen, garbage pickers are tremendously increasing. This calls the need of judiciously allocating the money government has at present.

Asian Development Bank has made a big contribution in this face of crisis.

In the fight against Corona, the Asian Development Bank (ADB) has sanctioned a loan of 113 billion rupees to India. The Finance Ministry issued a statement giving this information. The statement further said that such assistance by the ADB’S Covid-19 Active Response and Expenditure Support Program (CARES) can be extended to affected industries and entrepreneurs especially micro, small and medium industries.  

 

What ADB President said

The ADB said on Tuesday that it sanctioned a loan of 113 billion rupees to India to help with financial resources in the ongoing fight against the corona virus epidemic. ADB President Masatsugu Asakawa said “that in this unexpectedly difficult time, the organization is fully committed to support the Indian government in its work”. He said that this loan is to “help India in urgent needs in this epidemic”. This loan has been sanctioned to control disease, prevent it as well as provide social security to the poor and economically backward classes. 

“This quick disbursement is part of a larger package provided by ADB” Asakawa said in a statement issued here. “ADB will make this package available with close coordination with the government and other development partners” he added.

He said, “We are committed to help India in the steps being taken against Covid-19. We will ensure that the money will provide effective support to the people of India, especially the poor and deprived sections”.

Poor people to get assisstance

The multilateral agency, headquartered in Manila, has said that under its Active Response And Expenditure Support (CARES) program on Covid-19, families below the poverty line, farmers, health care workers, women, senior citizens, physically challenged and disabled people, low income groups and construction sector workers will be provided assistance. Direct contributions have been made to bring reform as well as to improve social security. 

Coronavirus cases in India reach 31,332; death toll reaches 1007

Coronavirus has affected 3,138,413 people worldwide and has killed 217,985 people so far. The country in which coronavirus has created maximum havoc is America in which 1.04M people are affected.

In India too, 1900 new cases of corona virus have been reported in the last 24 hours while the maximum number of 70 people have died. According to the Health Ministry data released on Wednesday, the number of people infected with the corona virus in the country has increased to 31,332. At the same time, the death toll of this dangerous Covid-19 epidemic has reached 1007 and total people recovered are 7,797.

READ  US accounts for over one fourth of global COVID-19 deaths

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