“AAP CHRONOLOGY SAMJHIYE”- LOAN FROM CHINA WITHOUT A MOUTH
On June 15 Chinese troops killed our 20 soldiers in Galwan Valley.
On June 19 India signed a loan agreement with a Beijing backed Asian Infrastructure Investment Bank for about $750 million dollars ( 5,520 crore inr approx.) to support the Pradhan Mantri Garib Kalyan Yojana.
On July 29, India banned 59 Chinese apps.
The narendra Modi led government has confirmed it officially that our nation, India has took two loans of round about $1,350 million dollars (9,202 crore inr) from China even during the harsh border stand off.
There’s nothing wrong about this loan from a Chinese backed bank as after china, India is the second largest stake holder of the bank.
But this goes against the centre’s policy of cracking down on Chinese business relationship in India.
The minister informed the Lok Sabha that the first loan agreement was signed on May 8 while the second one was made on June 19, just four days after the Galwan Valley clash. The initial reports about Chinese intrusion in Ladakh had, however, begun emerging in May.
“The Government of India has signed two loan agreements with the Asian Infrastructure Investment Bank under COVID-19 Crisis Recovery Facility,” Thakur said. “First loan of USD 500 million [Rs 3,676 crore approximately] was signed on May 8, 2020 to partly support the ‘India COVID-19 Emergency Response and Health Systems Preparedness Project’ to respond to the threat posed by COVID-19 pandemic and strengthen the national health system for preparedness.”
Thakur added: “The second loan of USD 750 million [Rs 5,514 crore approximately] was signed on June 19, 2020 as budgetary support to Government of India for Accelerating India’s COVID-19 Social Protection Response Programme in order to support measures undertaken under Pradhan Mantri Garib Kalyan Yojana (PMGKY), the benefits of which have also flown to States/UTs [Union territories].”