Social Protection Package for India
- The World Bank has accepted to provide One billion social protection for India. This package will make stronger Government of India’s programmes which are runing to comabt with COVID-19 pandemic. along with it, package will also give a support India’s efforts at providing social assistance to the poor people and vulnerable households who greatly impacted by the COVID-19 Disease.
The social protection packages for India would be given in two steps in the following manner:
- First phase will be given to India as an immediate allocation of $750 million for FY2020.
- Second phase, $250 million would be kept by World Bank that would be given for next fiscal year 2021.
About World Bank –
Headquarters: Washington, D.C
President: David Malpass
Purpose: Economic development
Q.1 About World Bank?
The World Bank is known as an international financial institution that aims to provide loans and grants to the governments of poorer nations for the purpose of pursuing capital projects.
Q.2 What is social protection packages?
package will make stronger Government of India’s programmes which are runing to comabt with COVID-19 pandemic.