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ADB approves $1.5 billion loan to India for purchasing COVID-19 vaccines

The Asian Infrastructure Investment Bank is expected to co-finance an additional USD 500 million for the project, it said. (File)The Asian Infrastructure Investment Bank is expected to co-finance an additional USD 500 million for the project, it said. (File)

The Asian Development Bank has approved a USD 1.5 billion (around Rs 11,185 crore) loan to India for COVID-19 vaccine procurement.

“ADB today approved a USD 1.5 billion loan to help the Government of India purchase safe and effective vaccines against the coronavirus disease (COVID-19),” ADB said in a statement on Thursday.

The Asian Infrastructure Investment Bank is expected to co-finance an additional USD 500 million for the project, it said.