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ADB promises $2.2bn aid for health sector

Asian Development Bank (ADB) president Masatsugu Asakawa on Friday assured finance minister Nirmala Sitharaman of the multilateral agency’s support to New Delhi in its fight against the novel coronavirus pandemic and said it was planning a $2.2 billion immediate assistance for the country’s health sector.

ADB expects India’s economic growth to slow down to 4% in FY21 on global pandemic

India’s economic growth is likely to slow down to 4 per cent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for the financial year 2020-21 on Friday. South Asia will face a milder slowdown. Growth in South Asia will decelerate to 4.1 per cent in FY2021 and then recover to 6 per cent in FY2022, it stated.

Global growth may be cut by up to 0.4%, warns ADB study

The coronavirus outbreak is likely to have a global impact of $77 billion to $347 billion or 0.1% to 0.4% of world GDP, a study by the Asian Development Bank (ADB) has shown. Two-thirds of the impact will be felt by China, the epicentre of the Covid 19 outbreak.