COVID-19 Active Response and Expenditure Support Programme

News: Government of India and Asian Infrastructure Investment Bank (AIIB) has signed a $750 million “COVID-19 Active Response and Expenditure Support Programme”.

Facts:

• Aim: To assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on poor and vulnerable households.
• Programme Beneficiaries: Families below poverty line, farmers, healthcare workers, women, widows, people with disabilities, senior citizens, construction workers and vulnerable groups.
• Funding: It is financed under the COVID-19 Crisis Recovery Facility of the AIIB and co-financed by the Asian Development Bank(ADB).
• Implementation: It will be executed by the Department of Economic Affairs, Ministry of Finance.

Additional Facts:

• Crisis Recover Facility: It has been set up by AIIB to provide financing to both public and private sector entities within its members facing serious adverse impacts as a result of Coronavirus pandemic.