(The Gist of PIB) Government of India and AIIB sign an

(The Gist of PIB) Government of India and AIIB sign an


Government of India and AIIB sign an

  • The Government of India and the Asian Infrastructure Investment Bank (AIIB) signed a $750 million “COVID-19 Active Response and Expenditure Support Programme” to assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on vulnerable households.


  • The Program will provide the Government of India with budget support to mitigate the severe adverse social and economic impact of COVID-19.
  • The Primary Programme beneficiaries would be families below the poverty line, farmers, healthcare workers, women, women’s self-help groups, widows, people with disabilities, senior citizens, low wage earners, construction workers and other vulnerable groups.
  • The project is being financed by the Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) in the amount of $2.250 billion, of which $750 million will be provided by AIIB and $1.5 billion will be provided by ADB.
  • The project will be executed by the Department of Economic Affairs, Ministry of Finance.
  • The current loan will be the second to India from AIIB under its COVID-19 crisis recovery facility apart from the earlier approved $500 million loan for the COVID-19 Emergency Response and Health Systems Preparedness Project.
  • The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank based in Beijing, China. It began operations in 2016 and has now grown to 102 approved members worldwide.



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Courtesy: PIB