AIIB approves 500 million USD for India

On May 8, 2020, the AIIB (Asian Infrastructure Investment Bank) approved 500 million USD to COVID-19 to India. The funds were aimed to scale up the containment efforts and strengthen the health system. This will help manage future outbreaks. Highlights The funds are to be used for Emergency Response and Health Systems Preparedness Project. The ..

Month: Current Affairs - May, 2020

Category: India Nation & States Current Affairs

Topics: AIIB • COVID-19 • Economic growth • Emergency Response Plan • Indian Council of Medical Research (ICMR) • Pradhan Mantri Garib Kalyan Ann Yojana • Public health surveillance

Asia Pacific Economic Cooperation: Economic Decline of 2.7% expected in the region

The Asia Pacific Economic Cooperation has stated that the APEC region is to face an economic decline of 2.7% in 2020 due to the impact of COVID-19. Also, the region is to face near growth rate. This will be the highest decline for the region since the 2008 financial crisis. Highlights The unemployment rate according ..

Month: Current Affairs - April, 2020

Category: International Current Affairs

Topics: APEC • ASEAN • Asia and Pacific • Asia-Pacific • Asia-Pacific region • Economic growth • Indian ocean region • Indo-Pacific • Indo-Pacific Region • Unemployment

UNCTAD cancels 1 trillion USD debts owed by developing countries

The United Nations Conference on Trade and Development (UNCTAD) has announced that it is to cancel over 1 trillion USD of debt owed by developing countries. Highlights According to the UNCTAD, over 64 low-income countries spend more on debts than their health systems. They are now struggling with growing debt burden to plummet prices of ..

Month: Current Affairs - April, 2020

Category: India Nation & States Current Affairs

Topics: COVID-19 • Debt • Economic growth • G20 • Gobal Debt Deal • High-middle income nation • UNCTAD • United Nations

Fifteenth Finance Commission to assess impacts of COVID-19

The Economic Advisory Council of the Fifteenth Finance Commission is to meet on April 23 and 24, 2020. The council is to discuss the impacts of COVID-19. Highlights A two-day meeting is to be held through video conference. The experts will discuss about macro variables over time. The agenda of the meet also includes public ..

Month: Current Affairs - April, 2020

Category: Economy & Banking Current Affairs

Topics: Advisory Council • COVID-19 • Economic growth • Fifteenth Finance Commission • Fitch Ratings • GDP • Growth rate • IMF • Moody's • World Bank

AIIB to finance 500 million USD projects to strengthen National Health Care Systems

The Asian Infrastructure Investment Bank is to finance 500 million USD projects in India to help the country improve its health care systems. AIIB is currently doubling its funds under COVID-19 Crisis Recovery Facility. Highlights The funding is to be used for purchase of equipment and also for detection capacity. India had earlier approached AIIB ..

Month: Current Affairs - April, 2020

Category: International Current Affairs

Topics: ADB • AIIB • COVID-19 • Economic growth • Economic Slowdown • G20 • Growth rate • Health • liquidity