The world’s top financial institution providing loans and grants to governments in need has announced plans to finance $12 billion in relief aid for countries attempting to curb the outbreak of coronavirus.
Officials at the World Bank said the financing was designed to help nations struggling with the fallout of a disease that has ripped through supply chains and hospitals from Beijing to Seattle. World Bank Group President David Malpass said the money included “emergency financing, policy advice, and technical assistance” to help local officials dealing with the epidemic.
“We are working to provide a fast, flexible response based on developing country needs in dealing with the spread of COVID-19,” said Malpass in a statement released on Tuesday.
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The virus, for which researchers are working to find a vaccine, has killed more than 2,800 people and infected more than 80,000 people worldwide since its initial outbreak at a seafood market in Wuhan, China, in late December 2019.
The World Bank says the financial package will consist of low-interest loans and grants to nations provided by the International Development Association, an arm of the bank that works with the world’s poorest countries.
“The World Bank support will cover a range of interventions to strengthen health services and primary health care, bolster disease monitoring and reporting, train front line health workers, encourage community engagement to maintain public trust, and improve access to treatment for the poorest patients,” the statement added.
