France has signed a credit financing agreement with India on Thursday (June 18) worth 200 million euros to help New Delhi from the coronavirus crisis. 

"Through this loan, France will work with India to increase the state and central governments' capacities to support the country's most vulnerable people in the wake of the COVID-19 crisis," the statement said, reported PTI

It also stated how designed and developed by the World Bank in collaboration with the Indian authorities, the assistance seeks to optimize and scale up to the government of India's existing social protection programmes.

"Focusing on boosting the Pradhan Mantri Garib Kalyan Yojna, the programme will provide further benefits to low-income families to ensure that the health, social and economic shocks arising from COVID-19 do not endanger people's well-being or their contribution to the country's economic growth in the long run," it said.

The ambassador of France to India, Emmanuel Lenain, who was present at the sign of the agreement, said: "President Macron and Prime Minister (Narendra) Modi have been working together so that the excellent relations between our two countries translate into concrete cooperation in the fight against COVID-19."

"The Indian government's rollout of the PMGKY is a testament to its commitment to ensuring that the most vulnerable sections of society are protected, and it is this commitment that France, through the French Development Agency and its partners, is determined to support," he added.

The Central government on Thursday said that the recovery rate of COVID-19 has reached 52.95% in the country and a total of 1,94,325 people affected have been cured so far.

During the last 24 hours, 7,390 people have recovered from lethal infection. Prime Minister Narendra Modi on Wednesday held a consultation with chief ministers of all states to discuss ways to control the spread of the virus.

He made it clear that the lockdown will not be imposed again and a period of unlocking has begun.