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₹5,714 cr loan to India for COVID-19 response

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NEW DELHI : Beijing-based Asian Infrastructure Investment Bank (AIIB) on Wednesday said it has approved a $750 million (around ₹5,714 crore) loan to India to help the government strengthen its battle against the adverse impact of COVID-19 on poor and vulnerable households."Co-financed with the Asian Development Bank, the budgetary support will go toward bolstering economic aid for businesses, including for the informal sector, expanding social safety nets for the needy, and strengthening the country's health care systems," the multilateral agency said in a statement.India is extremely vulnerable to the pandemic given that around 270 million people continue to live below the national poverty line and around 81 million live in densely.

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