ADB pledges $2.2 bn to bolster India's health infrastructure, MSMEs

The ADB president on Friday called Finance Minister Nirmala Sitharaman to discuss the issue and assured support to India in its fight against the coronavirus disease

The Asian Development Bank (ADB) will provide India $2.2 billion (around Rs 16,000 crore) to help the country ramp up health infrastructure and bolster micro, small and medium-sized enterprises (MSMEs) facing hardships because of the coronavirus-related lockdown.

“The ADB is committed to supporting India’s emergency needs. We are now preparing $2.2 billion in immediate assistance to the health sector and to help alleviate the economic impact of the pandemic on the poor, informal workers, MSMEs and the financial sector,” its president Masatsugu Asakawa said.

He said the ADB assistance will be increased, if needed. “We will consider all