India allocates $6.7 bln in cheap loans for vaccine, hospital, health firms

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Sumary of India allocates $6.7 bln in cheap loans for vaccine, hospital, health firms:

  • India central bank said Wednesday that $6.7 billion in cheap financing would be released for vaccine makers, hospitals and other health firms to counter the devastating coronavirus surge gripping the country..
  • With hospitals complaining of critical shortages of oxygen, beds and vaccines, the new measures aim to improve access to emergency health care during the pandemic, he said..
  • India underfunded health care system has struggled to cope with the latest Covid-19 onslaught, with patients dying in hospital parking lots due to a lack of beds and oxygen..
  • The country has tried to claw back lost ground after a stringent, months-long lockdown caused the labor market to collapse and the economy to contract by nearly a quarter between April and June last year..
  • Asia third-largest economy was in the throes of a prolonged slowdown even before the pandemic, and the hit to global activity from the virus and one of the world strictest lockdowns combined to deal the country a severe blow…

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