India seeks $6 billion of loans from ADB, AIIB to fight coronavirus pandemic

India is seeking as much as $6 billion of loans from multilateral institutions such as the Asian Development Bank to bolster its efforts to fight the coronavirus outbreak. The World Bank has already committed $1 billion, while government is in talks with Asian Infrastructure Investment Bank and ADB, the people said, asking not to be identified because the details haven’t been finalized.

Daily Current Affairs Quiz 2020

India needs to rapidly scale up testing for the virus to head off the disease from infecting more people in the world’s most populated nation after China. Proceeds including from the World Bank will be used to acquire testing kits and ventilators, turning hospital beds into intensive care unit beds as well as for buying personal protective equipment for health care workers.