Washington - The World Bank on Thursday
said its board of executive directors approved an initial $1.9
billion (R35.1bn) in emergency funds for coronavirus response operations
in 25 countries, and said it was moving quickly on projects in
40 others.
In addition, the World Bank said it was working to redeploy
resources in existing World Bank financed projects worth up to
$1.7 billion (R31.4bn). The Bank has said it is prepared to spend up to
$160 billion (R2.9tr) over the next 15 months to combat the pandemic.
India, the third largest economy in Asia, will receive $1
billion (R18.5bn) to support better screening for the virus, contact
tracing and laboratory diagnostics; pay for personal protective
equipment; and set up new isolation wards for those infected.
World Bank Group President David Malpass said the Bank was
moving quickly to strengthen the ability of developing countries
to respond to the fast-spreading virus, and shorten the time to
economic and social recovery.
"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 in a statement.
The funds approved on Thursday included $200 million for
Pakistan, $100 million for Afghanistan and $82.6 million for
Ethiopia, the Bank said.
The Bank said it was also helping countries obtain urgently
needed medical supplies by asking suppliers on behalf of
governments.