Asian Development Bank (ADB) assured of $2.2 billion (about Rs 16,500 crore) support package to India to fight against COVID-19 pandemic. India’s needs, including emergency assistance, policy-based loans and budget support to facilitate swift disbursement of ADB funds. ADB stands ready to provide further financial assistance and policy advice whenever the situation warrants.
ADB is committed to supporting India’s emergency needs. ABD preparing USD 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.
Important takeaways for all competitive exams:
- President of ADB: Masatsugu Asakawa.
- Formation of ADB: 19 December 1966.
- Headquarters of ADB: Manila, Philippines.
- Membership of ADB: 68 countries.