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ADB president assures Indian FM of $2.2-bn support package
10 Apr '20
1 min read
Pic: Shutterstock
Asian Development Bank (ADB) president Masatsugu Asakawa today assured Indian finance minister Nirmala Sitharaman of a $2.2-billion (about ₹16,500 crore) support package for India’s fight against the COVID-19 pandemic. ADB is also engaged with the private sector to meet its financing needs during this period, the Manila-based organisation said in a statement.
"ADB is committed to supporting India's emergency needs. We are now preparing $2.2 billion in immediate assistance to the health sector and to help alleviate the economic impact of the pandemic on the poor; informal workers; micro, small, and medium-sized enterprises; and the financial sector," Asakawa said.
In a call, Asakawa commended the Indian government's decisive response to the pandemic.
"ADB assistance for India will be further increased if needed. We will consider all financing options available with us to meet India's needs, including emergency assistance, policy-based loans, and budget support to facilitate swift disbursement of ADB funds,” added.
On March 18, ADB had announced an initial package of approximately $6.5 billion to address the immediate needs of its developing member countries, including India, as they respond to the pandemic.
"ADB is committed to supporting India's emergency needs. We are now preparing $2.2 billion in immediate assistance to the health sector and to help alleviate the economic impact of the pandemic on the poor; informal workers; micro, small, and medium-sized enterprises; and the financial sector," Asakawa said.
In a call, Asakawa commended the Indian government's decisive response to the pandemic.
"ADB assistance for India will be further increased if needed. We will consider all financing options available with us to meet India's needs, including emergency assistance, policy-based loans, and budget support to facilitate swift disbursement of ADB funds,” added.
On March 18, ADB had announced an initial package of approximately $6.5 billion to address the immediate needs of its developing member countries, including India, as they respond to the pandemic.
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