On Friday, Asian Development Bank (ADB) President Masatsugu Asakawa has assured Finance Minister Nirmala Sitharaman of $ 2.2 billion (about Rs 16,500 crore)financial support to India to fight against Coronavirus. Asakawa praised India's efforts. He said that India has done well by announcing the National Health Emergency Program, taxes to businesses and other relief measures. He said that the economic relief package of Rs 1.7 lakh crore from the Government of India on March 26 is the best step.
Significantly, there is a lockdown in the country from 25 March to 14 April, it is possible that it can be extended further. Asakawa said ADB is committed to supporting India's emergency needs. We are now preparing $ 2.2 billion support package for immediate assistance in the health sector. This will help reduce the economic impact of the epidemic on the poor.
ADB said in a statement, ADB is also involved with the private sector to meet its financial needs during this period. He said ADB will provide more assistance to India when needed. We will consider all financing options available to us to meet India's needs, including emergency assistance, policy-based lending, and budget support to facilitate rapid disbursement of ADB funds.
