1 Billion Dollars will be given by World Bank to India: To support fight against Covid19

Updated: Nov 13

On Friday International Financial Institution issued statement about the supporting India as aid to the Covid-19 outbreak. The World Bank has approved 1 Billion Dollars to support India’s efforts for helping poor.

The World Bank will help government of India in three sectors includes health, social protection and the MSME.

The World Bank is now given total of 2 Billion US Dollars to India in this coronavirus outbreak.

Earlier USD 1 Billion is been great help for India’s health sector.

USD 550 Million will be financed by a credit from IDA (International Development Association). USD 200 Million will be taken as loan from the IBRD (International Bank of Reconstruction & Development).

This total USD 750 Million (more than Rs 5600 Crore) will be used immediately under Pradhan Mantri Garib Kalyan Yojana to scale up cash transfer, distribute food grain to vulnerable communities , pensioners and poor workers, and provide insurance support to health workers.

And the remaining USD 250 Million (Rs 1900 Crore) will be available after 30th June 2020.

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