Japan to extend emergency loan for India to fight Covid-19

September 01, 2020 08:55

Japan said it will extend emergency loan support of upto 50 billion yen towards India's response to the Covid-19 pandemic that includes implementation of health and medical policy.

Additional Secretary, Department of Economic Affairs of Finance Ministry, CS Mohapatra and Japanese ambassador Suzuki Satoshi exchanged notes in New Delhi on Monday, concerning the provision of the yen loan to New Delhi to combat the COVID-19 pandemic.

According to an official release by the Japanese embassy, this "COVID-19 crisis response emergency support loan" provides the necessary funds for India's fight against coronavirus.

This financial support will support the implementation of health and medical policy by the Government of India, and will lead to the development of hospitals equipped with ICUs and infection prevention and management facilities.

It is expected that these measures, in addition to controlling the spread of infection in the country, will also contribute to the recovery and stability of the country's society and economy, as well as to sustainable development.

The loan will have an interest rate of 0.01 per cent per annum with a redemption period of 15 years, including a four year grace period. -- ANI

« Back to LIVE

TOP STORIES

More than 20 detained, but no breakthrough in Poonch attack probe

The officials said a massive joint search operation by the Army and the police is in progress in several areas including Shahsitar, Gursai, Sanai, Lasana and Sheendara top for the third day but there was no trace of the terrorists so far.

India defeat Bangladesh by 56 runs in rain-hit match

The hosts had to chase 125 in 14 overs under the DLS method to secure their first win of the series.

How Mumbai Indians Can Make Play-Offs...

MI have six points after playing 11 matches and need to win their next three matches against Sunrisers Hyderabad, Kolkata Knight Riders and Lucknow Super Giants to bag six points from these games.

Phase 3: Fate of Shah, Scindia among 1300 candidates to be sealed on Tuesday

Among the bigwigs are Union ministers Amit Shah (Gandhinagar), Jyotiraditya Scindia (Guna), Mansukh Mandaviya (Porbandar), Parshottam Rupala (Rajkot), Pralhad Joshi (Dharwad) and SP Singh Baghel (Agra).

Blue and Orange: India's jersey for T20 World Cup!

The new jersey is a mix of blue and orange, featuring a tri-coloured stripe on the collar.