WHO launches COVID-19 Technology Access Pool (C-TAP)

The Costa Rica and World Health Organization have launched C-TAP. C-TAP is COVID-19 Technology Access Pool.

Highlights

The C-TAP will act as an one-stop shop for information, scientific knowledge and intellectual property for global community. Around 30 countries, institutions and international partners have signed to support C-TAP. It is an initiative that aims to make vaccines, tests, health technologies and treatments.

Background

The initiative was proposed by President of Costa Rica Mr Carlos Alvarado. The initiative will help to hasten the discovery of medicines, vaccines and other technologies that will help cure COVID-19.

Five Key Elements of the Pool

The five main elements of the pool include

  • public disclosure of gene sequences and data
  • governments and other funders that are encouraged to fund agreements with pharmaceutical companies
  • licensing potential vaccine
  • diagnostic treatment and other health technologies
  • promote innovative models.

Loans worth Rs 3,200 crores sanctioned under Atma Nirbhar Bharat Abhiyan

On June 2, 2020, the Public Sector Banks sanctioned collateral free loans that were worth Rs 200 crores. The complete Rs 200 crore sanction was done in a single day.

Highlights

The PSBs are set to sanction Rs 3,200 crores under Atma Nirbhar Bharat Abhiyan. This will benefit MSMEs (Micro, Small and Medium Enterprises) that are located in more than 3,000 TIER-2 towns. These loans will help MSMEs meet their expenses towards rent, restocking of goods and payment of salaries.

Atma Nirbhar Bharat Abhiyan

The Union Finance Minister Nirmala Sitaraman while announcing the economic package of Rs 20 lakh crore under the Atma Nirbhar Bharat Abhiyan Scheme, said that collateral free loans with one-year moratorium will be provisioned. These loans are those that are now being provided by the Public Sector Banks. (Moratorium is the period during which the borrower is not obligates to make any payment).

Under the scheme, for the other stressed sectors up to 25 crores of rupees are availed as additional 20% of outstanding loans.