The World Bank on Friday announced an additional $1 billion in funding to help India protect its poor in the fight against covid-19.
The money in two tranches will be used to scale up cash transfers, food benefits and protection of essential workers, migrants and other vulnerable groups in the immediate future; and help strengthen the country’s social safety net programme next year onwards.
The multilateral lender had provided $1 billion support last month to strengthen India’s healthcare sector. “This new support will be funded in two phases—an immediate allocation of $750 million for fiscal year 2020 (FY21 in World Bank parlance) and a $250 million second tranche that will be made available for fiscal year 2021 (FY22)," the World Bank