France has signed a loan agreement of 200-million-euros with India to boost India’s COVID-19 response. With the loan agreement, France aims to increase the state and central governments’ capacities to support India’s most vulnerable people in the wake of the COVID-19 crisis. World Bank has developed the programme design in collaboration with the Indian authorities to optimize and expand the existing social protection measures taken by India.
World Bank would be the lead funder of this programme, being supported by French Development Agency (AFD) including other multilateral and bilateral development banks. The programme will focus on Pradhan Mantri Garib Kalyan Yojna by providing benefits to the low-income families so that the health, social as well as the economic shocks arising from Covid-19 do not negatively affect people’s well-being and their contribution to the India’s economic growth in the long run.
Important takeaways for all competitive exams:
- President of France: Emmanuel Macron; Capital: Paris.