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Finance Minister seeks help from World Bank to fight COVID, this important thing said in IMF meeting

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Finance Minister Nirmala Sitharaman said that the WBG has played a role in doing this with the help of multilateral agencies like the World Health Organization and the Global Vaccine Alliance.

Nirmala Sitharaman

Amid growing Corona affairs, Finance Minister Nirmala Sitharaman asked the World Bank to continue to maintain measures taken in times of crisis keeping in mind the loan repayment capacity of the weaker countries. The Finance Minister also urged that the World Bank should work to explore the possibilities of further strengthening these efforts.

Finance Minister Sitharaman, while addressing the 103rd meeting of the World Bank – International Monetary Fund (IMF) Development Committee through video conferencing, appreciated the proactive role played by the World Bank Group in providing vaccines to developing countries on time and at cheaper rates. .

Loan amount crosses $ 100 billion

Finance Minister Nirmala Sitharaman said that the WBG played a role in doing this with the help of multilateral agencies such as the World Health Organization and the Global Vaccine Alliance. Sitharaman said that the World Bank Group increased its funding activities during the COVID-19 epidemic. Due to this, for the first time, the total sanctioned loan amount exceeded 100 billion dollars.

Government’s emphasis on safeguarding from epidemic

The Finance Minister said that at present all the countries are on evacuating their people from the COVID-19 epidemic and operating their economy. Sitharaman said that India has taken several measures to prevent the epidemic and reduce its socio-economic impact. For this, a series of economic stimulus packages have been released during the last one year.

Relief from self-sufficient package

The Finance Minister said that the government has announced a total self-sufficient India package of Rs 27.1 lakh crore during this period, which is 13 percent of the GDP. He said that these packages have been issued not only to provide social security to the poor and deprived sections, but with this, work has been done to pursue economic reforms. Actually, given the rapid growth of the second wave of Corona, the government does not want to let the pace of the economy slow down, while the RBI has also said that we are able to deal with the other web of Corona and every effort is being made for it. is.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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