PM Modi proposes creation of emergency fund for COVID-19, offers USD 10 million

Prime Minister Modi on Sunday proposed the creation of an emergency fund for the South Asian Association for Regional Cooperation (SAARC) nations to combat the coronavirus pandemic and pitched India's initial offer of USD 10 million for this fund. "I propose we create a COVID-19 emergency fund. This could be based on voluntary contributions from all of us. India can start with an initial offer of USD 10 million for this fund," PM Modi said at a video conference with participants from the SAARC nations.