Coronavirus world bank pledges 12bn in emergency aid
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World Bank Pledges $12 Billion in Emergency Aid to Combat Coronavirus
The World Bank has announced a massive pledge of $12 billion in emergency aid to help countries combat the spread of the coronavirus (COVID-19). The funding will be used to support countries in their efforts to prevent the spread of the virus, treat those affected, and mitigate its economic impact.
The World Bank's President, David Malpass, stated that the organization is committed to supporting its member countries in this time of crisis. He emphasized that the funding will be used to support countries in their efforts to:
- Prevent the spread of the virus: The funding will be used to support countries in their efforts to detect and respond to the virus, including strengthening their healthcare systems, increasing testing capacity, and improving contact tracing.
- Treat those affected: The funding will be used to support countries in their efforts to treat those affected by the virus, including providing medical supplies, equipment, and personnel.
- Mitigate the economic impact: The funding will be used to support countries in their efforts to mitigate the economic impact of the virus, including supporting small and medium-sized enterprises, and protecting vulnerable populations such as the poor and the elderly.
The World Bank's pledge is part of a broader international effort to combat the spread of the coronavirus. The organization has already provided emergency funding to several countries, including China, South Korea, and Italy, and is working closely with other international organizations, such as the World Health Organization (WHO) and the International Monetary Fund (IMF), to coordinate the global response to the crisis.
Overall, the World Bank's pledge of $12 billion in emergency aid is a significant step towards supporting countries in their efforts to combat the spread of the coronavirus and mitigate its economic impact.