WB funds 1 Billion dollars to India to fight with Corona

By iDream Post Apr. 03, 2020, 05:24 pm IST
WB funds 1 Billion dollars to India to fight with Corona

The world bank has considered Corona menace as serious issue and takes a decision to support India and some other Asian countries to fight with Covid-19. World Bank has approved USD 1-billion emergency financing for India to fight with coronavirus outbreak.

The World Bank's first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said.

"In India, $1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards," the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for Maldives and $128.6 million for Sri Lanka.

The World Bank said it is now working to grant up to $160 billion over the next 15 months to support measures to tackle the pandemic which will focus on the immediate health consequences and bolster economic recovery.

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