Japan has announced an Emergency Grant Aid of approximately $18.5 million to India, which is currently battling a severe Covid 19 second wave. Earlier, the country had also announced that it would provide additional grant assistance of up to $50 million to India, besides providing 300 oxygen concentrators along with another 300 ventilators.
The Asian Development Bank (ADB) too on Friday said that it is ready to provide further assistance to India, which is currently battling a severe second wave of Covid 19 pandemic.
In 2020, it committed $3.92 billion in sovereign loans for 13 projects in India, including $1.8 billion in Covid- 19 related projects to support the Centre’s pandemic response. This is ADB’s highest-ever annual lending commitment to India since the start of its lending operations in 1986. ADB also committed $356.1 million through its non-sovereign operations to India, including three COVID-19 support projects.
“Going forward, ADB stands ready to provide additional resources to address India’s many COVID-19 related challenges, including funds to expedite the country’s ongoing vaccination program and build the health system’s resilience against future shocks, with supplementary support to protect small businesses, and underpin education and social protection,” Takeo Konishi, Country Director for ADB in India said in a statement.
Konishi also said that the multilateral agency is expanding assistance to quality infrastructure development to support India’s fast economic recovery. “ADB’s lending assistance will be further supported with knowledge work to help develop transformative projects.” he added.
As part of pandemic support to India, ADB provided emergency assistance to contain the disease and establish social protection measures for relief to the poor and other vulnerable groups. ADB also approved financing to help the government improve equitable access to comprehensive primary health care in urban areas.