India Announces $6.7 Bn In Cheap Loans For Vaccine, Health Firms

The central bank of India provided $ 6.7 billion in cheap funding to vaccine makers, hospitals and other medical companies on Wednesday to counter the devastating coronavirus outbreak that struck the country.

Reserve Bank of India Governor Shaktikanta Das said cheap loans would be available until March 31st next year and vowed to take “unconventional” steps if the crisis worsened.

He spoke when India announced a record 3,780 deaths and 382,000 cases in 24 hours.

“The catastrophic rate at which the virus affects different parts of the country must be consistent with swift and widespread action,” he said.

He said the new measures are aimed at improving access to emergency care during a pandemic, as hospitals complain of a serious shortage of oxygen, beds and vaccines. It will be easier for banks to offer cheap loans to hospitals, oxygen manufacturers, and even patients.

Indian hospitals have a serious shortage of oxygen, beds and vaccines
AFP / Tauseef Mustafa

“The immediate goal is to save lives and restore livelihoods by all means possible,” Das added.

India’s underfunded healthcare system is struggling to cope with the latest Covid-19 onslaught, with patients dying in hospital parking due to lack of beds and oxygen.

From April to June last year, after months of severe blockades disrupted the labor market and reduced the economy by nearly a quarter, the country sought to regain lost ground.

Asia’s third-largest economy is on the verge of a prolonged slowdown before the pandemic, a serious blow to the country combined with the virus’s blow to global activity combined with one of the world’s toughest blockades. Gave.

Fearing repeated economic devastation last year, authorities have so far imposed limited restrictions on maintaining the economy and targeting outbreaks in the most devastated areas of the country. I’m trying to balance.

New Delhi hopes that the economy will be further boosted by the massive vaccination drive that has hit 160 million vaccinations in 1.3 billion countries launched in January. ..

India Announces $6.7 Bn In Cheap Loans For Vaccine, Health Firms Source link India Announces $6.7 Bn In Cheap Loans For Vaccine, Health Firms

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