On 29th July 2020, The Asian Development Bank (ADB) approved the 3 Million USD (about Rs.22 Crore) from the ADB’s Asia Pacific Disaster Response Fund (APDRF) to India to support the Government’s emergency response to COVID-19.The amount was financed by Japanese government.
ADB’s Grant:
i.The grant will be utilised to procure thermal scanners and other essential commodities to strengthen the Indian Governments COVID-19 response.
ii.The grant enhances the ADB’s support to the Government of India and this grant will support the surveillance of the infection and will help in early detection, contact tracing and treatment of the infection.
iii.This will boost the other public health measures.
Other ADB funds and initiatives:
i.As a part of the 20 million USD expanded assistance for the developing member countries’ pandemic response announced on 13th April 2020, COVID-19 pandemic response option (CPRO) was established under the ADB’s Countercyclical Support Facility.
ii.To Support India’s immediate COVID-19 response efforts like disease containment and prevention ADB approved a 1.5 Billion USD COVID-19 Active Response and Expenditure Support (CARES) Program on 28th April 2020 which is funded through CPRO.
About ADB:
President– Masatsugu Asakawa
Headquarters– Metro Manila, Philippines
Motto– Committed to achieving a prosperous, inclusive, resilient and sustainable Asia & the Pacific, while sustaining its efforts to eradicate extreme poverty.
Recent Related News:
i.The World Bank‘s Board of Executive Directors has approved a USD 400 million multi-year financial support to help India enhance its coastal & marine resources, protect marine resources & coastal populations from pollution, erosion, sea-level rise, and improve livelihood opportunities for coastal communities over the next decade.
ii.World Bank approves Rs 7500 crore (1 billion USD) to increase India’s COVID-19 Social Protection response Program to help the nation’s efforts.
