AIIB, World Bank-funded project to invest $1.5 bn in India’s Covid fight

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News: The “India COVID-19 Emergency Response and Health System Strengthening Project” will invest $1.5 billion over four years in India to help its healthcare system tackle the Covid-19 pandemic.

Facts:

  • About the Project: The project has been financed by the Asian Infrastructure Investment Bank(AIIB) and World Bank.
  • Aim: To prevent, detect and respond to the threat posed by COVID-19 (Coronavirus) and strengthen national health systems for preparedness in India.
  • Components: The project has components dealing with emergency Covid-19 response, shoring up the healthcare system and strengthening pandemic research among others.

Additional Facts:

  • AIIB: It is a multilateral development bank established in 2016 with a mission to improve social and economic outcomes in Asia. Headquarters: Beijing,China.Members: 103.India is one of the founding members.