India and World Bank sign $400 million project to protect India’s poor

The Government of India and the World Bank have signed a $400 million project to protect vulnerable groups in urban and peri-urban areas across the country impacted by COVID-19. This is the second such assistance in the series of two ‘Accelerating India’s COVID-19 Social Protection Response Programme’. Under the first operation, $750 million was approved by World Bank in May 2020.

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Under this project :

• World Bank will support India in its efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.
• The programme will strengthen the capability of state and central governments in India to provide coordinated and adequate social protection to the poor and vulnerable from the shocks triggered by the COVID-19 pandemic.

Important takeaways for all competitive exams:

• Headquarters of World Bank: Washington, D.C., United States.
• President of World Bank: David Malpass.
• World Bank Founded: July 1944.

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