- The World Bank has announced an aid of $1 billion to support India’s efforts to provide social assistance to the poor and most vulnerable households severely impacted by the coronavirus pandemic.
- The support package in fiscal and monetary measures will be funded in two phases, an immediate allocation of $750 million for fiscal year 2020 and a $250 million second tranche that will be made available for fiscal year 2021.
- Governments around the world have taken unprecedented steps to restrict the movement of people through lockdowns intended to slow down the spread of the virus. This has had a severe impact on economies and jobs, especially in the informal sector.