The Government of India and the New Development Bank (NDB) have signed a loan agreement worth $1,000 million for ‘supporting India’s economic recovery from COVID-19’. The loan has a tenor of 30 years, including a 5-year grace period. The programme will support Indian Government in mitigating the adverse economic impact of COVID-19 pandemic and enable economic recovery in the rural areas.
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Under the agreement, Shanghai-based NDB will lend financial support for:
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