Heath Desk-5 March, 2020: World Bank Group is making
available an initial package of up to $12 billion in immediate support to help
the member countries cope with the health and economic impacts of the global
outbreak.
This financing is designed to help the countries take
effective action to minimize the tragic impacts posed by the virus, said a
press release.
Through this new fast track package, the World Bank Group
will help developing countries strengthen health systems, including better
access to health services to safeguard people from the epidemic, strengthen
disease surveillance, bolster public health interventions, and work with the
private sector to reduce the impact on economies.
Countries face different levels of risk and vulnerability to
COVID-19, and will require different levels of support. The Bank Group support
will prioritize the poorest countries and those at high risk with low
capacity. As the spread of COVID-19 and its
impact continues to evolve, the World Bank Group will adapt its approach and
resources as needed.
The financial package, with financing drawn from across IDA,
IBRD and IFC, will be globally coordinated to support country-based responses.
The COVID-19 support package will make available initial
crisis resources of up to $12 billion in financing — $8 billion of which is new
— on a fast track basis.
This comprises up to $2.7 billion new financing from IBRD;
$1.3 billion from IDA, complemented by reprioritization of $2 billion of the
Bank’s existing portfolio; and $6 billion from IFC, including $2 billion from
existing trade facilities.
International Finance Corporation, the World Bank Group’s
private sector arm, will provide its clients with the necessary support to
continue operating and to sustain jobs.
http://amarhealth.com/Health-Institute/4751/WBGrouppledges12bntocopewithcoronavirus
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