The World Bank has so far provided three loans worth $2.5 billion to Government of India to support Government of India’s response to COVID-19 pandemic situation for health ($1 billion), for social protection ($0.75 billion) and for economic stimulus ($0.75 billion), the benefits of which have accrued to all States and UTs. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha today.

Giving more details, Shri Thakur said that the first loan relating to health measures worth $1,000 million was signed on 3^rd April, 2020 to part finance Government of India’s ₹ 15,000 crore COVID Health measures to prevent, detect and respond to the threat posed by COVID-19 and strengthen national systems for public health preparedness. As on date, $502.5 million has been disbursed under the loan. The second loan relating to social protection measures worth $750 million was signed on 15^th May, 2020 as budgetary support to Government of India for ‘Accelerating India's COVID-19 Social Protection Response Programme’ to support relief measures to beneficiaries under Pradhan Mantri Garib Kalyan Package (PMGKP). This loan has been fully disbursed as on date. The third loan relating to economic stimulus measures worth $750 million was signed on 6^th July, 2020 as budgetary support to Government of India in order to support MSMEs under Aatma Nirbhar Bharat Package (ANBP). This loan has also been fully disbursed as on date.

International loan financing supports pandemic response: World Bank credits for health, social protection and MSME stimulus in India. Three World Bank loans to India were provided as budgetary financing for COVID-19 response: a health loan to part-finance national health measures and strengthen public health preparedness (partially disbursed), a social protection loan to accelerate the social protection response and support relief under welfare packages (fully disbursed), and an economic stimulus loan to support MSMEs under the domestic stimulus programme (fully disbursed).