The Asian Development Bank (ADB) has signed the maximum loan agreement with India in the last year. It also includes financial assistance of $ 1.8 billion (about Rs. 12,960 crore) given to the projects brought by the government to overcome the Corona crisis. Last year, ADB promised India a record $ 3.92 billion (about Rs 28,224 crore) of debt.
Last year, ADB financed a total of 13 projects in India. ADB said that it was the largest loan given to India since it started operations in 1986. To deal with the Corona infection, the Manila-based ADB signed a large loan agreement to India.
This included loans for social security schemes including financial assistance to the poor and other afflicted sections. Along with this, the bank also approved financial assistance to the government for taking steps towards improvement of health facilities in urban areas.
Takeo Konishi, ADB’s country director in India, said the bank was always ready to provide additional financial support to all government efforts to address the challenges of the Corona transition. It also has an ongoing immunization program, for which the bank will assist the government as per the requirement. With this, the bank is also ready to provide financial assistance to strengthen small and medium companies here, including India’s readiness to deal with any such crisis in future.
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