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The World Bank on 15 May 2020 announced $1 billion in funding for accelerating India’s covid-19 social protection response programme to support the country’s efforts at providing social assistance to poor and vulnerable, hit the hardest by the coronavirus pandemic.This is over and above the $1 billion in support provided by the multi-lateral agency last month for strengthening India’s health sector. "This new support 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," World Bank said in a statement.