Japan announces assistance of ₹35 billion for India to fight against Coronavirus

Tokyo/New Delhi – Japan has initiated steps to assist India in the fight against Coronavirus. Japan has announced an aid of ₹35 billion to India. On Monday, the Indian finance ministry and Japan International Cooperation Agency (JICA) signed an agreement regarding this. It was informed that this financial aid is for the ‘Prime Minister Atmanirbhar Swasth Bharat Yojana’ (PM-ASBY) being implemented by the health ministry.

On Monday, CS Mohapatra, Additional Secretary with the finance department and Katsuo Matsumoto, Chief Representative JICA India Office signed the agreement. The amount of ₹35 billion is being given as ‘COVID-19 Crisis Response Emergency Support Loan’ under Official Development Assistance (ODA). The funds will be given for the PM-ASBY.

JICA has made this loan available to strengthen the Indian public health systems. Under this scheme, treatment will be made available to the serious and critical COVID patients. ‘COVID-19 Crisis Response Emergency Assistance Loan’ provides necessary funds for the fight against Coronavirus in India. JIC said in its statement that these funds would be useful for implementation of the policies of the Indian Health and medical policies and for prevention of the spread of COVID and development of well-equipped ICUs and hospitals with requisite management.

This loan received by India has a repayment period of 15 years and an interest of 0.01% will be charged per annum. JICA will also be providing technical assistance under PM-ASBY. Over the last two decades, Japan has provided aid of 42.5 billion Japanese Yen to India. JICA has also built health projects in the states of Tamil Nadu and Odisha.