The Board of Governors (BoG) of the New Development Bank (NDB) held its Fifth Annual Meeting virtually on April 20, 2020.
Daily Current Affairs Quiz 2020
Key-Points
NDB’s efforts to deliver its mandate successfully by taking a more sustainable and inclusive approach were highlighted.
The Minister discussed the bank’s effort on fast-tracking of financial assistance of about $5 billion to BRICS countries including Emergency Assistance of $1 billion India to combat COVID-19 pandemic.
The Bank has directed the bank’s assistance under this facility to be enhanced to $10 billion.
The bank has initiated the creation of a COVID-19 Emergency Fund and supported India’s efforts in supplying critical medicine to the needy countries to tackle the COVID-19.
The various measurements of the bank to support India in tackling the COVID-19 pandemic include an allocation of $2 Billion by GoI to strengthen the healthcare system.
It also announced a scheme of social support measures amounting to $25 Billion to alleviate the hardship of the poor and the vulnerable and provided insurance cover of $67,000 per person to over 2.2 million frontline health workers.
