World Bank Announces $12 Billion Aid To Combat Coronavirus
CORONAVIRUS – The World Bank announced on Tuesday that they will provide $12 billion funds to help poor countries combat coronavirus.
The novel coronavirus or COVID-19 was first reported in Wuhan City, China. It has caused the death of more than 3000 people and most of the victims are from mainland China. More than 90,000 people across the globe are now infected with the deadly virus.
COVID-19 has swept across Asia and now sparked new outbreaks in the United States and Europe. The World Health Organization (WHO) has labeled the outbreak as “very high” risk of spread but they haven’t declared it as a global pandemic.
On Tuesday, March 3, The World Bank announced that they will provide $12 billion to help poor countries combat the novel coronavirus outbreak. Based on a report from the Manila Bulletin, the president of the agency, David Malpass said funds will assist the countries that are struggling with the health and economic impacts of the virus.
“The goal is to provide, effective action that responds to county needs,” Malpas said.
According to the report, the World Bank said the world’s poorest nations will benefit the fund and it will be used for their health services or medical equipment. David Malpass said the money will go to countries that request help.
“The point is to move fast. Speed is needed to save lives… we want to make the best use of the World Bank’s extensive resources and global expertise and the historical knowledge of crisis,” said Malpass.
They have been in contact with many member nations but they haven’t revealed which country was the first to receive the aid.
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