ADB & AIIB likely to finance $2Bn loan to India for procurement of COVID-19 vaccines

  • Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) are considering providing a loan worth $2 billion to India for the procurement of COVID-19 vaccines.

  • Out of the total amount, ADB is expected to finance $1.5 billion whereas AIIB is likely to lend $500 million.

  • "The ADB has agreed to finance USD 1.5 billion and AIIB will supplement with another USD 500 million," AIIB Vice President DJ Pandian said.

  • The government is planning to procure 667 million doses through the loan amount.


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