Japan pledges soft loan of over Rs 3,460 crore to help India fight Covid-19 pandemic
The financial support is expected to support the implementation of health and medical policy by the Indian government
Japan has pledged a soft loan of over Rs 3460 crore to support reforms in the health sector and control the spread of the Covid-19 pandemic. It has also pledged another grant of Rs 69 crore to India said a statement by the Embassy of Japan in New Delhi.
Japan’s aid will help the Government of India procure oxygen concentrators for treatment of critical Covid-19 patients in the hospitals, said a report by Deccan Herald.
“This financial support will support the implementation of health and medical policy by the Government of India and will lead to the development of hospitals equipped with ICUs and infection prevention and management facilities, which are undersupplied in India,” the report quoted Embassy of Japan in New Delhi’s statement.
The statement revealed that the grant will lead to the enhancement of telemedicine using digital technology in several villages across India.
The report said that Japan expressed hope that the “Covid-19 Crisis Response Emergency Support Loan” to India would also contribute to the recovery of the society and economy and the sustainable development of the country.
Deccan Herald said that the loan has a redemption period of 15 years with the grace of four years.
“This programme will provide Oxygen Generators to the Government of India. (The) Oxygen Generators can be employed for the treatment of COVID-19 patients under critical conditions,” the report quoted the Embassy of Japan in New Delhi’s statement.