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What is the total loan amount approved under Asia Pacific Vaccine Access Facility (APVAX) by Asian Infrastructure Investment Bank (AIIB) & Asian Development Bank (ADB) to India for procuring COVID-19 vaccines?
  • a)
    USD 5 Trillion
  • b)
    USD 5 Billion
  • c)
    USD 2 Billion
  • d)
    USD 2 Trillion
  • e)
    USD 1 Billion
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What is the total loan amount approved under Asia Pacific Vaccine Acce...
Asian Infrastructure Investment Bank (AIIB) along with the Asian Development Bank (ADB) are currently processing a USD 2 billion loan for India to purchase COVID-19 vaccines under ADB’s Asia Pacific Vaccine Access Facility (APVAX).
  • AIIB provides USD 500 million and the Manila-based ADB is expected to finance USD 1.5 billion.
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