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World Bank grants USD 1 billion social protection package for India

Washington DC: World Bank announces USD 1 billion social protection package for India linked to Govt of India programmes. These funds are meant to develop the machinery required for fighting the coronavirus pandemic.

The first group of projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 countries, World Bank said in statement on Thursday.

“This fast action to reduce the spread of COVID-19 and we already have health response operations moving forward in over 65 countries,” said World Bank Group President David Malpass.

“We are working to strengthen developing nations’ ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery. The poorest and most vulnerable countries will likely be hit the hardest, and our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis.”

Out of the 25 countries, India has received the biggest grant at $1 billion. “In India, $1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” World Bank said.

 

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