On the 2nd of April, the World Bank approved a 1 billion dollars emergency loan to India.
The amount was approved as a financial aid for the Indian Government to fight the pandemic illness, the Novel Coronavirus or COVID-19.
The Board of Executive Directors, on the 2nd of April, conducted a meeting and approved 1 billion dollars to India. The Board of Executive Directors of the World Bank said, “In India, $1 billion emergency financing will support better screening, contact tracing and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards.”
Besides India, the World Bank approved financial aid to South Asia, Pakistan (200 million dollars,) Afghanistan (100 million dollars,) Maldives (7.3 million dollars) and Sri Lanka (128.6 million dollars.)
The approved loan amount would help nearly 65 nations to tackle their healthcare system and economic condition during this health crisis.
David Malpass, the President of the World Bank Group said, “The World Bank Group is taking broad, fast action to reduce the spread of Covid-19 and we already have health response operations moving forward in over 65 countries.”
Mr. Malpass said the approved amount would help the nations to strengthen their ability to fight the pandemic situation which created a vulnerable situation.
COVID-19 which has become a global health crisis, infected 1,016,395 people and killed 53,238 people worldwide.
