The World Bank on Thursday approved USD 1 Billion (Rs. 7,500 Crores) emergency funding for India to help it fight against the corona virus pandemic, which has claimed 76 lives and infected 3,000 people in the country.
As per the Official of the World Bank, WB’s first set of aid projects, will be amounting to USD 1.9 billion. Emergency Fund for Corona Virus Pandemic will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process.
The largest chunk of the emergency financial assistance has gone to India – USD 1 billion.
World Bank Donation to India for Corona: The World Bank said on Thursday that In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards. This statement was said after World Bank’s Board of Executive Directors approved the first set of emergency support operations for developing countries across world, using a dedicated, fast-track facility for COVID-19 response.
In South Asia, the World Bank also approved USD 200 million for Pakistan, USD 7.3 million for the Maldives, USD 128.6 million for Sri Lanka and USD 100 million for Afghanistan.
“We are working to grant up to USD 160 billion over the next 15 months to support measures to tackle the Corona Virus pandemic which will focus on the immediate health consequences and bolster economic recover” the World Bank said.
The broader economic program will aim to shorten the time to recovery, support small and medium enterprises, create conditions for growth, and help protect the poor and vulnerable.
World Bank Donation to INDIA
World Bank Help/Aid to India- “There will be a strong poverty focus in these operations, with an emphasis on policy-based financing, and protecting the poorest households and the environment. We are working to strengthen (the) developing nations’ ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery” said World Bank Group President David Malpass.
The World Bank Group is taking broad, fast action to reduce the spread of COVID-19 and World Bank Group already have health response operations moving forward in over 65 countries.
” The poorest and most vulnerable countries will likely be hit the hardest, and our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis,” Malpass said while approving Emergency Fund for 15 Countries to fight against COVID-19.
In Afghanistan, USD 100 million will support preparedness and emergency response in the health sector and include social protection and education measures to help the poor and vulnerable cope with the immediate impacts of the pandemic.
According to the bank, $200 million will support Pakistan to slow and limit the spread of COVID-19 through enhanced detection, surveillance, and laboratory systems, as well as strengthen essential health care delivery and intensive care.
The World Bank is helping countries access critically needed medical supplies by reaching out to suppliers on behalf of the governments, responding to widespread supply chain disruptions,
The World Bank is encouraging others to provide financial support to developing countries for the COVID-19 health response, said the media statement on Thursday.
**Also Read-> Total Coronavirus Cases in India | Covid-19 Live Updates
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