Japan’s Loan to India to Fight Covid-19

Japan has again extended financial support to India by signing a loan agreement of up to 30 billion yen (around Rs 2,129 Crore) for mitigating the socio-economic impacts of COVID-19 in India.

Key Points

  • The COVID-19 Crisis Response Support Loan for Social Protection was signed between Additional Secretary, Department of Economic Affairs, C. S. Mohapatra, and Ambassador of Japan to India SUZUKI Satoshi.
  • Japan has also provided other financial assistance to India to fight against COVID-19 before this.
  • A loan for the COVID-19 emergency of up to 50 billion yen (around Rs 3,549 crore) was provided by Japan for implementing health and medical policy by the Indian government.
  • Japan also extended a loan of around a billion yen for providing Oxygen Generators to India. These Generators were used in the treatment of COVID-19 patients under critical conditions.
  • Japan has also partnered with various international organizations after COVID-19 for providing financial assistance to India. The total assistance through these international organizations to India accounts for around USD 7.26 million.
  • Now, with this latest loan, the COVID-19 related assistance of Japan to India has reached approximately Rs. 5,800 Crore.

COVID-19 Vaccination

The vaccination drive in India is scheduled to start in India from January 16. Two COVID-19 vaccines will be utilized in the drive which has got emergency use approval in the country- Covaxin and Covishield.