India announces multimillion-dollar healthcare aid amid an egregious second wave of Coronavirus

second wave of coronavirus India

The Central Bank of India announced that it will allocate 6.7 billion dollars to finance vaccine manufacturers, hospitals and healthcare companies fighting COVID-19.

The Central Bank of India took a step forward on Wednesday to help combat the devastating second wave of coronavirus that is hitting the country, with the announcement of soft loans for $ 6.7 billion to finance vaccine manufacturers, hospitals and companies in the sector. sanitary.

Low-interest loans will be available until March 31 next year, announced the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, who promised ” unconventional ” measures if the crisis worsens.

Shaktikanta Das made the announcement after it was learned that India had registered 3,780 deaths from COVID-19 on Tuesday, a record number, and 382,000 additional infections.

This devastating wave of the pandemic is attributed, among other reasons, to religious and political gatherings in recent months and the lack of action by the authorities.

The immediate goal is to preserve human life and restore livelihoods by all possible means,” added Das.

In contrast, the head of the Indian Central Bank did not recommend a nationwide lockdown, because restrictions have already been applied in the regions most affected by the virus.

The devastating speed with which the virus affects different regions of the country must be accompanied by swift and wide-ranging action,” said Das.

RBI measures aim to improve access to emergency medical care during the pandemic. It will be easier for banks to make cheap loans to hospitals, oxygen manufacturers, and even patients.

The central bank will also give some companies an additional term to repay their loans, in order to support the economy, Das said.

India’s underfunded health care system has struggled to cope with the latest onslaught of the pandemic, with patients dying on the doorstep of hospitals due to lack of care and oxygen.

India, with 1.3 billion inhabitants, has registered more than 222,000 deaths and about 20.3 million cases since the start of the pandemic.