To enhance its response to the COVID-19 pandemic, the Government of India has signed a $1.5 billion loan with the Asian Development Bank (ADB). The loan amount will be used in fulfilling India’s immediate priorities. These priorities comprises of disease containment and prevention, social protection for the poor as well as economically vulnerable sections of the society, especially women and disadvantaged groups.
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The loan amount will be sanctioned under the ADB’s COVID-19 Active Response and Expenditure Support Programme (CARES Programme). This programme was rolled out by the Asian Development Bank as the first support to meet the immediate requirements of the government.
Important takeaways for all competitive exams:
- President of Asian Development Bank: Masatsugu Asakawa.
- ADB was established in 1966.
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