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

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.