Question : Multilateral funding agency ADB has recently(July 2020) approved USD 3 million (about Rs 22 crore) grant to India.Which of the following statement is correct regarding this grant ?
(a) The grant, which is financed by the Chinese government, will be used to procure thermal scanners and essential commodities to strengthen the India’s COVID-19 response.
(b) On April 28, ADB approved USD 15 billion COVID-19 Active Response and Expenditure Support (CARES) programme to support India in its immediate pandemic response efforts
(c) The CARES programme is funded through the COVID-19 pandemic response option (CPRO) under ADB’s Counter-cyclical Support Facility.
(d) All are correct
Answer : (c)
Related facts
- Multilateral funding agency ADB has recently(July 2020) approved USD 3 million (about Rs 22 crore) grant to India from its Asia Pacific Disaster Response Fund to further support the government’s emergency response to COVID-19 pandemic.
- The grant, which is financed by the Japanese government, will be used to procure thermal scanners and essential commodities to strengthen the India’s COVID-19 response.
- On April 28, ADB approved USD 1.5 billion COVID-19 Active Response and Expenditure Support (CARES) programme to support India in its immediate pandemic response efforts.
- The CARES programme is funded through the COVID-19 pandemic response option (CPRO) under ADB’s Counter-cyclical Support Facility.
By — Pankaj Pandey.