France to aid India with 200 million euro concessional loan

France has finalised a concessional loan of 200 million euros to support vulnerable segments of the Indian society in the context of the COVID-19 pandemic and cyclone Amphan, French diplomatic sources told ANI on Thursday.

France has finalised a concessional loan of 200 million euros to support vulnerable segments of the Indian society in the context of the COVID-19 pandemic and cyclone Amphan, French diplomatic sources told on Thursday.

"The French Development Agency has finished finalising a concessional loan of 200 million euros, which will bolster the World Bank in providing additional social protection to the most vulnerable in India," diplomatic sources told .

In the aftermath of cyclone Amphan in India, the sources said French President Emmanuel Macron wrote to Prime Minister Narendra Modi and on behalf of his people, the leader conveyed his heartfelt condolences and solidarity to those who suffered losses due to the cyclone which ravaged parts of West Bengal and Odisha, claiming over 70 lives.

"President Macron has offered to extend any support that India might consider necessary to come to the aid of those directly affected," diplomatic sources said further.

In the spirit of the phone call held by the two leaders on 31st March to fight the COVID-19 pandemic, France and India have enhanced their training and research cooperation.

The President also underscored the importance of the cooperation between the two countries at a multilateral level and support that India will be in a position to extend to France's actions initiated under the G20 as well as to the Access to COVID Tools - Accelerator (ACT-A) initiative, which will play a vital role in providing equitable access to all for diagnostics, treatments and immunisation.

( With inputs from ANI )