With the Union Cabinet approving a loan guarantee scheme for Covid-affected sectors and raising the corpus of emergency credit line guarantee scheme, Prime Minister Narendra Modi said on Wednesday that it will provide additional financial support to key projects in various sectors, especially in healthcare and medical infrastructure.

The Cabinet chaired by Modi approved the loan guarantee scheme, enabling funding to the tune of Rs 50,000 crore to provide financial guarantee cover for brownfield expansion and greenfield projects related to health and medical infrastructure.

It also approved introduction of a scheme for other sectors and lenders, including those allied to better healthcare, besides an additional funding up to Rs 1,50,000 crore under the emergency credit line guarantee scheme.

In a tweet Modi said, "An important Cabinet decision that will provide additional financial support to key projects relating to various sectors particularly healthcare and medical infrastructure."

As part of the package to support the Covid pandemic-hit economy, Finance Minister Nirmala Sitharaman had on Monday announced Rs 1.5 lakh crore of additional credit for small and medium businesses, more funds for the healthcare sector, loans to tourism agencies and guides, and waiver of visa fee for foreign tourists.