Japan extends Rs 3,500 cr loan to boost India’s Covid-19 response

New Delhi (NVI): Japan today announced that it would provide Rs 3,500 crore (50 billion yen) loan to provide necessary funds for emergency response in the fight against Covid-19 in India.

The exchange of notes took place between C S Mohapatra, Additional Secretary, Department of Economic Affairs and Japanese Ambassador to India, Suzuki Satoshi.

Termed as “COVID-19 Crisis Response Emergency Support Loan”, it will support the implementation of health and medical policy by the Government and will lead to the development of hospitals equipped with ICUs and infection prevention and management facilities, which are undersupplied in India, the Japanese embassy said in a statement here.

It is also expected to lead to the enhancement of telemedicine using digital technology in numerous villages across India, the embassy said.

Apart from that, Japan also gave India grant assistance of nearly 70 crore (1 billion Japanese yen) towards a project in India, under Japan’s ODA scheme, namely, “The Economic and Social Development Programme”.

“This programme will provide Oxygen Generators to Government of India. Oxygen Generators can be employed for the treatment of COVID-19 patients under critical conditions. This programme will lead to the strengthening of India’s infectious disease countermeasures, as well as her health and medical systems,” the Japanese embassy said.