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ADB’s COVID-19 Active Response and Expenditure Support (CARES) Program

Topics Covered: Issues related to health.

ADB’s COVID-19 Active Response and Expenditure Support (CARES) Program

What to study?

For Prelims and Mains: Overview and significance of the program.

 Context: The Government of India and the Asian Development Bank (ADB) signed a $1.5 billion loan agreement for the ADB’s COVID-19 Active Response and Expenditure Support Programme (CARES Programme).

It will be used to implement (i) COVID-19 containment plan to rapidly ramp up test-track-treatment capacity, and (ii) social protection for the poor, vulnerable, women, and disadvantaged groups to protect more than 800 million people over the next three months.

About ADB’s COVID-19 Active Response and Expenditure Support (CARES) Program:

Started to provide immediate requirements to governments in the face of this global crisis.

The CARES Programme is provided as the first support to meet the immediate requirements of the government.

The Program will contribute directly to the improvement of access to health facilities and care, as well as social protection for more than 800 million people.

The Program is funded through the COVID-19 pandemic response option (CPRO) under ADB’s Countercyclical Support Facility.

The CARES Program will be provided with a USD 2 million technical assistance grant to support the government to strengthen its operational framework and efficient targeting, delivery, and monitoring and evaluation of its pro-poor economic package, as well as its health sector and social protection interventions.

Insta Links:

Prelims Link:

  1. Genesis and composition of ADB.
  2. Funding and voting at ADB.
  3. Types of loans.
  4. What is countercyclical support facility?

Sources: pib.