According to a post published by AAP – Aam Aadmi Party’s official handle, the Modi government is looking for a loan for vaccination. A lot of BJP Politicians have been saying that the petrol prices have been raised because to provide free vaccination. However, people have been crying over the recent increase in petrol prices. And some have been giving explanations like government need to fund the vaccination drive that is why petrol prices are high.
https://www.facebook.com/AamAadmiParty/photos/a.492032297563202/4220937001339361/
However, when we checked this came out to be true that Modi Government is actually trying to get a loan of $2 Billion Loan From AIIB, ADB.
According to a news report by thewire.in, India has applied to the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) for a $2 billion loan to purchase 700 million doses of COVID-19 vaccinations.
According to PTI, the Manila-based ADB is set to fund $1.5 billion of the loan, while the AIIB’s vice president D.J. Pandian stated on Tuesday that the latter is considering offering $500 million.
He said the loan is being considered by the AIIB board and that India sought it three months ago. According to the Bank, the loan would be used to purchase around 667 million doses of COVID-19 vaccines.
He explained that the vaccinations will be obtained through a competitive process by the Indian government, with the ADB administering the process and implementing it through the ADB’s APVAX (Asia-Pacific Vaccine Access Facility) mechanism.
India, which manufactures Covishield and Covaxin, recently gave out 100 million doses of COVID-19 vaccination to its residents. In addition, India intends to recommence vaccine exports and offer vaccines to a number of countries.
