COVID-19 Active Response and Expenditure Support Program (ADB-54182-001)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 28, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of India
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1,502.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 1,500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS May 13, 2020

Disclosed by Bank Apr 28, 2020


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Project Description

According to ADB website, the COVID-19 Active Response and Expenditure Support (CARES) Program, under the Countercyclical Support Facility COVID-19 Pandemic Response Option (CPRO), will provide critically needed support to help the government mitigate the severe health, social, and economic impact caused by the coronavirus disease 2019 (COVID-19) pandemic. It will allow the government to undertake public expenditures that are essential for supporting vulnerable populations and curtailing spread of the disease. 

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Karan, Navendu, South Asia Department
ADB

Executing Agencies: 

Department of Economic Affairs
Ministry of Finance
Room No. 40-B North Block
New Delhi-110001, India

Ministry of Finance (Old)
Department of Economic Affairs (Old)
Ministry of Finance, North Block
New Delhi, India

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main