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US Commits USD 1.9 Million to India to Support Informal Sector Workers, Micro Enterprises

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US-commits-USD-1On October 1, 2020 United States (US) committed USD 1.9 Million (approximately INR 14 Crores) to support informal workers, whose lives have been affected due to COVID-19. The Financial Assistance has been extended by the US Agency for International Development (USAID). 

Key Points:

i.USAID will support Revive Alliance, founded by Samhita-Collective Good Foundation and co-funded by Michael and Susan Dell Foundation, Omidyar Network India, and Ford Foundation.

ii.It is expected to reach around 60, 000 – 1,00, 000 workers and enterprises, with preference to youth and women.

iii.Revive Alliance will take on upskilling activities for laid-off youth and informal labourers. 

iv.It will launch a USD 6.85 million in the first phase to provide accessible and affordable capital through returnable grants, loans to self-employed workers, vulnerable nano and micro enterprises to sustain their work or find alternative business opportunities.

Recent Related News:

i.On 30th April 2020, The United States Agency of International Development(USAID), one of the leading aid agency of the government of United States has announced an additional grant of 3 million USD in addition to the 2.9 million USD announced on 6th April 2020 to help India to fight against the COVID-19 pandemic.

About United States (US):
President – Donald Trump
Capital – Washington D.C.
Currency – United States Dollar