Government of India & World Bank signed $1 billion agreement proposed for Accelerating India’s COVID-19 Social Protection Programme of India & to provide social assistance to the poor and vulnerable households impacted by the pandemic.
- This takes the total commitment from the Bank towards emergency COVID-19 response in India to $2 billion.
- A $1 billion support was announced last month towards immediate support to India’s health sector.
- This new support will be funded in two phases – an immediate allocation of $750 million for fiscal year 2020 and a $250 million for fiscal year 2021.
- This programme will expand the impact and coverage of India’s social protection system by helping vulnerable groups access more social benefits directly and across the country.
- The first phase will immediately help scale-up cash transfers and food benefits, using the pre-existing platforms such as PDS and DBT.