$1B fund for India from World Bank

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The World Bank has approved $1 billion aid for India amid the spread of the Covid-19 pandemic to support the efforts towards providing social assistance to the poor and vulnerable households. This is in addition to the $1 billion package announced last month for the health sector. An initial $750 million (over ₹5,600 crore) will be allocated immediately through the Pradhan Mantri Garib Kalyan Yojana, to help scale up cash transfers and food benefits. Another $250 million (almost ₹1,900 crore) will be provided for FY21 to deepen the social protection package, extending additional cash and in-kind benefits based on local needs. 

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