Business Standard

World Bank approves $1-bn loan to India amid coronavirus outbreak

This takes the total commitment from the World Bank towards emergency Covid-19 response in India to $2 billion.

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The new support will be funded in two phases — an immediate allocation of $750 million for the financial year 2021 (FY21) and a $250-million second tranche that will be made available for FY22, the multilateral agency said.

Subhayan Chakraborty New Delhi
The World Bank on Friday announced $1 billion in social sector funding for India. The money will go towards mitigating the economic and humanitarian crisis being faced by unorganised workers and migrant labourers impacted by the Covid-19 pandemic.

This takes the total commitment from the World Bank towards emergency Covid-19 response in India to $2 billion.

A $1-billion support was announced last month to support India’s health sector.


The new support will be funded in two phases — an immediate allocation of $750

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