New Delhi: The World Bank has announced a grant of US $ 1 billion to India. The World Bank has announced this amount to help India’s efforts to provide social assistance to poor, vulnerable families.
World Bank Director of India, Junaid Ahmed has said that the emphasis on social distancing in the midst of the Corona crisis has affected the business. Junaid Ahmed also said, ‘Government of India has paid attention to the poor welfare scheme for the poor and backward which is acting as a bridge. Health is also being worked on and it is being tried that the economy should come back on track.
Junaid Ahmed has also informed that the World Bank will partner with the Government of India in three areas – Health, Social Security and Micro Small and Medium Industries (MSME).
Just a few days ago, the New Development Bank (NDB) of the BRICS countries announced a billion dollar emergency aid to India.
Shanghai-based NDB was founded by BRICS countries (Brazil, Russia, India, China, South Africa) in 2014 and is currently led by veteran Indian banker KV Kamath. The Board of Directors of NDB approved the ‘Emergency Assistance Program Loan’ for India on 30 April and aims to reduce the human, social and economic losses caused by the Corona virus epidemic.
