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01.07.2020 / 10:09

World Bank approves $750 millon loan for India small businesses hit by pandemic

NEW DELHI : The World Bank has approved a $750 million loan to India for extending lending to micro, small and medium enterprises (MSMEs) severely hit by the pandemic, a top official of the bank said on Wednesday."The MSME sector is central to India’s growth and job creation and will be key to the pace of India’s economic recovery, post COVID-19," Junaid Ahmad, World Bank's director for India, told reporters at a virtual conference.The loan from the International Bank for Reconstruction and Development (IBRD), private arm of the World Bank, will have a maturity of 19 years, including a 5-year grace period, the bank said in a statement. Click here to read the Mint ePaperLivemint.com is now on Telegram.

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COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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