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AIIB grants 500-million-dollars loan to assist India’s battle against COVID-19


India is an Asian country that has hit by the Coronavirus pandemic very severely. Poverty and carelessness of the society lead India to a worse situation during this Coronavirus pandemic. As a developing country, India’s economy is in a very dangerous situation due to this Coronavirus pandemic. The government is in a struggle of handling the situation with the drop-down of the economy. Because it costs a huge amount to rescue people from this pandemic. In that case, health care and technology sectors of the society do a valuable service. So, the government is responsible to bear up the costs of those sectors.

As India is not a country with a well-developed economy, the government is also searching for external aids. The Asian Infrastructure Investment Bank(AIIB) is ready to give its hand to support India to fight against this Coronavirus pandemic. AIIB is willing to grant a 500-million-dollars loan to India to support the country’s health care and technology sectors.

AIIB’s expectations
AIIB has granted a 500-million-dollars loan to the fund established to access the operations against COVID-19 in India. World Bank also assists in this case. The expectation of granting such kind of fund is, assisting the government to take necessary steps to strengthen the health care system. So that, controlling the spread of the virus and supplying necessary treatments to the patients may take place in a fruitful manner.

DJ Pandian who is the vice president of investment operations of AIIB expects, the granting fund will assist Indians to avoid the spreading of the virus furthermore and treating the patients who affected by the virus in an effective way. He believes, this fund will boost India’s health system and it will be helpful to struggle against this Coronavirus pandemic.

AIIB expects, the granted fund will develop India’s COVID-19 emergency response. And it will support the Indian Council of Medical Research(ICMR) and the contribution of the community against this pandemic.

According to AIIB; to control the spreading of Coronavirus and to save the lives of victims of this pandemic, the health system of the country should be powerful enough. Therefore, countries should give priority to strengthen the health care system of the country. So, AIIB is willing to grant funds for the countries that need external assistance to build up their health care network.   
        
AIIB’s action
AIIB; Asian Infrastructure Investment Bank is a good supporter of the zonal counties even at a crisis. AIIB is always willing to give its hands to the countries to stand up against any crisis. Currently, due to the spreading of Coronavirus over the world, AIIB is looking forward to aid the counties to fight against this pandemic.

AIIB is ready to launch supporting programs to develop health projects in countries. In this kind of emergency occasions, AIIB is willing to aid the countries to strengthen their health systems. The AIIB’s board of directors granted 355-million-dollars to China previously. That is how AIIB helps zonal counties in this pandemic.

Not only that, AIIB had increased its COVID-19 Crisis Recovery Facility by twice as previously. Therefore, a 5- billion- dollars fund has raised up to 10- billion- dollars on the 17th of April. That recovery facility is very much helpful to support the zonal members who are in need. So, countries with economic, financial, and health care shortcomings will have the assistance of AIIB to overcome the crisis.

The AIIB is a loyal supporter who aids the countries to improve the health care system to struggle over the Coronavirus pandemic. In that case, the AIIB has doubled its funds in order to help the zonal members. AIIB’s main aim is to assist the health care sector of the countries to control the spreading of the virus and to save the lives of the victims by giving necessary treatments. China and India got the support of the AIIB to handle the current situation due to the dropping of the economy. 

Coronavirus pandemic is a severe disaster that should defeat by taking hand in hand. In that case, AIIB plays a role of a good friend in need.
AIIB grants 500-million-dollars loan to assist India’s battle against COVID-19 AIIB grants 500-million-dollars loan to assist India’s battle against COVID-19 Reviewed by ViralBlossom on May 24, 2020 Rating: 5

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