THE USE OF KNOWLEDGE IS POWER

In A Time Of Universal Deceit, Telling The Truth Becomes A Revolutionary Act. (Orwell)

ALL TRUTH PASSES THROUGH THREE STAGES; FIRST, IT IS RIDICULED, SECOND, IT IS VIOLENTLY OPPOSED, THIRD, IT IS ACCEPTED AS BEING SELF-EVIDENT. (Arthur Schopenhauer)

I WILL TELL YOU ONE THING FOR SURE. ONCE YOU GET TO THE POINT WHERE YOU ARE ACTUALLY DOING THINGS FOR TRUTH'S SAKE, THEN NOBODY CAN EVER TOUCH YOU AGAIN BECAUSE YOU ARE HARMONIZING WITH A GREATER POWER. (George Harrison)

THE WORLD ALWAYS INVISIBLY AND DANGEROUSLY REVOLVES AROUND PHILOSOPHERS. (Nietzsche)

Search This Blog

Blog Archive

Friday, January 22, 2021

RTI: Govt Of India Took $5.6 Billion COVID-19 Loan From Global Institutions

January 22, 2021

The Government of India has took loan to the tune of $5.6 billion dollars from global institutions to fight COVID-19, RTI has revealed. However, on what conditions these money was borrowed hasn’t been disclosed yet.

The government has borrowed about $5.6 billion (Rs 41,746 crore) from international financial institutions and other countries during the current fiscal to battle the Covid-19 pandemic, RTI documents, in possession of Deccan Herald show.

The government of India has got sanctions worth Rs 52,246.32 crore loans from five foreign institutions, along with France and Japan to battle the effects of the coronavirus pandemic, as per a set of documents sourced from RTI activist Venkatesh Nayak.

The loans approved include credit facilities from the Asian Development Bank, the Asian Infrastructure Investment Bank, International Bank For Reconstruction and Development, International Development Association, New Development Bank, along with bilateral loans from France and Japan.

However, on what conditions these money was borrowed hasn’t been disclosed yet.

Huge foreign loans are given to sovereign nations by the World Bank, IMF and the likes.

But the conditions that come attached to these loans are seldom told by governments to their citizens.

As reported by GreatGameIndia earlier, a case in Belarus exposed the conditions laid by these agencies for loans being provided for COVID-19.

The President of Belarus has exposed that the World Bank coronavirus aid comes with conditions for imposing extreme lockdown measures, to model their coronavirus response on that of Italy and even changes in the economic policies which he refused as being “unacceptable”.

READ MORE
https://greatgameindia.com/category/coronavirus-covid19/

No comments: