Japan International Cooperation Agency to provide 2,000 crore to India for COVID-19 crisis
The Japan International Cooperation Agency (JICA) signed an agreement with India to provide an Official Development Assistance (ODA) loan of 30,000 million Japanese yen (approx. ??2,069 crore) for “the COVID-19 Crisis Response Support Loan for Social Protection”. The goal of the project is to contain COVID-19 and mitigate negative socio-economic impacts in India, JICA said in a statement.
Katsuo Matsumoto, chief representative of JICA India, said the COVID-19 outbreak has harmed underprivileged and vulnerable societies in India. JICA aims to support India in its response to the COVID-19 pandemic, by accelerating economic support to the government.
“The project aims to support the government in its efforts of Pradhan Mantri Garib Kalyan Yojana (PMGKY) to empower these disadvantaged groups, whose lives have been hampered by the pandemic. Besides this project, JICA provided an ODA loan of ‘COVID-19 Crisis Response Emergency Support’ to strengthen the public health system under the leadership of Prime Minister Atmanirbhar Swasth Bharat Yojana (PM-ASBY) “, t -he declares.
This will be done by expanding budget support to the government implementing emergency response programs and policy reforms for social protection as COVID-19 countermeasures, thus helping to promote stabilization efforts. and social and economic development in India, the statement said.
The project aims to strengthen the capacity of state and national governments in India to provide coordinated and adequate social protection to the poor and vulnerable from the impacts of the COVID-19 pandemic and its future crisis, the statement said.
The loan aligns with loans granted by other multilateral and bilateral donor organizations such as the World Bank (WB), the Asian Development Bank (ADB), the French Development Agency (AFD) and the Kreditanstalt für Wiederaufbau (KfW). The DEA is the executing agency of the project.
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