{"id":2617,"date":"2020-05-14T10:58:47","date_gmt":"2020-05-14T05:28:47","guid":{"rendered":"https:\/\/www.classiciasacademy.com\/blog\/?p=2617"},"modified":"2020-05-14T10:58:47","modified_gmt":"2020-05-14T05:28:47","slug":"aiib-approves-500-mn-loan-to-india","status":"publish","type":"post","link":"https:\/\/www.classiciasacademy.com\/blog\/aiib-approves-500-mn-loan-to-india\/","title":{"rendered":"AIIB Approves $500-mn Loan to India"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">In News<\/h3>\n\n\n\n<p>The Indian government and AIIB signed a <strong>COVID-19 Emergency\nResponse and Health Preparedness Project.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">In-Detail<\/h3>\n\n\n\n<ul><li>To fight against COVID-19, the <strong>Asian\nInfrastructure Investment Bank (AIIB)<\/strong> has approved <strong>$500 million<\/strong> loan\nsupport to India for <strong>COVID-19 Emergency Response and Health Preparedness\nProject.<\/strong>.<\/li><li>The AIIB is headquartered at Beijing and the\nproject is the first-ever health sector support to India. The project is\nco-financed by the World Bank.<\/li><li>The <strong>National Health Mission (NHM), National\nCentre for Disease Control (NCDC), the Indian Council of Medical Research\ntogether will work on this project.<\/strong><\/li><li>The project will cover all the States and Union\nTerritories.<\/li><li>The project supports the needs of the infected\npeople, at-risk population, medical and emergency personnel and service\nproviders, medical and testing facilities and national and animal health\nagencies.<\/li><li>The project will also provide immediate support\nto enhance disease detection capacities, oxygen delivery systems and medicines\namong others.<\/li><li>The project will enable the government to slow\nand limit the spread of COVID-19 in India.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">AIIB<\/h3>\n\n\n\n<ul><li>The <strong>Asian Infrastructure Investment Bank\n(AIIB)<\/strong> is a <strong>development multilateral bank.<\/strong><\/li><li>It is established by the AIIB Articles of\nAgreement and is headquartered in Beijing.<\/li><li>The mission is to improve social and economic\noutcomes in Asia.<\/li><li>The operations of the bank started in January\n2016 and have 102 approved members worldwide.<\/li><li>China is the largest contributor to the bank,\ncontributing USD50 million and India is the second-largest contributor country\nwith a contribution of USD 8.4 billion.<\/li><li>AIIB has created a COVID-19 Crisis Recovery\nFacility. <\/li><li>To support the AIIB members from economic,\nfinancial and public health pressures and recovery from the crisis, the bank\nhas funded USD5-USD10 billion. <\/li><li>India is one of the largest beneficiaries of\nAIIB. The AIIB approved five projects with total loan support of USD\n1.074billion.<\/li><li>The five projects are Bangalore Metro Rail\nProject, Andhra Pradesh 24\u00d77 power supply, Transmission system strengthening\nproject, Gujarat Rural Road Project and India Infrastructure Fund.<\/li><\/ul>\n\n\n\n<p>National Health Mission<\/p>\n\n\n\n<ul><li>Launched in the year 2013, National Health\nMission is an amalgamation of National Rural Health Mission (NRHM) and the\nNational Urban Health Mission (NUHM).<\/li><li>The objective of the programme is to strengthen\nhealth systems in rural and urban areas, especially in reproductive, maternal,\nneonatal, child and adolescent health (RMNCH+A) and communicable and non-communicable diseases.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Conclusion<\/h3>\n\n\n\n<p>The AIIB\u2019s timely\nassistance will help in building a resilient health system and strengthens\nIndia\u2019s capacity to effectively manage future disease\noutbreaks.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>In News The Indian government and AIIB signed a COVID-19 Emergency Response and Health Preparedness Project. In-Detail To fight against COVID-19, the Asian Infrastructure Investment <a class=\"mh-excerpt-more\" href=\"https:\/\/www.classiciasacademy.com\/blog\/aiib-approves-500-mn-loan-to-india\/\" title=\"AIIB Approves $500-mn Loan to India\">    [read more]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":2618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[98],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AIIB Approves $500-mn Loan to India - UPSC Current Affairs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.classiciasacademy.com\/blog\/aiib-approves-500-mn-loan-to-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIIB Approves $500-mn Loan to India - UPSC Current Affairs\" \/>\n<meta property=\"og:description\" content=\"In News The Indian government and AIIB signed a COVID-19 Emergency Response and Health Preparedness Project. 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