ADB approves $3 million grant to India to combat COVID-19

Asian Development Bank has approved USD 3 million grant to India from its Asia Pacific Disaster Response Fund to further support the government’s emergency response to COVID-19 pandemic.

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Key-Points

The grant, which is financed by the Japanese government, will be used to procure thermal scanners and essential commodities to strengthen the India’s COVID-19 response.

On April 28, ADB approved $1.5 billion COVID-19 Active Response and Expenditure Support (CARES) programme to support India in its immediate pandemic response efforts, including disease containment and prevention, as well as social protection measures for the poor and economically vulnerable, particularly women and disadvantaged groups.

The CARES programme is funded through the COVID-19 pandemic response option (CPRO) under ADB’s Counter-cyclical Support Facility.

CPRO was established as part of ADB’s $20 billion expanded assistance for developing member countries’ pandemic response, which was announced on April 13.

Asian Development Bank

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966.

ADB is headquartered in Manila, Philippines. It aims to promote social and economic development in Asia.

ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside.

Japan holds the largest proportion of shares in ADB followed by the USA.