The coronavirus pandemic is not yet over and it is here to stay. It is known to be the largest ever crisis and World Bank has deployed 157 billion USD to battle coronavirus in the past 15 months. In a statement, World Bank said that it mobilized 157 billion USD to support mankind during this crisis. World Bank President David Malpass told this yesterday. He also said that the World Bank will continue to provide assistance till the economy across the globe returns back to the track. World Bank is also focused on several developing and under-developed countries to strengthen the resilience of future shocks.
The World Bank is deeply concerned about the low availability of coronavirus vaccines because of which the virus is spreading through different waves and variants. As per the press release, the total fund of 45.6 billion USD is pooled from the World Bank for Reconstruction and Development. World Bank has also been offering low-interest loans to the poorest countries of the globe from International Development Association (IDA). This amounted to 53.3 billion USD. Over the same 15 months, the International Finance Corporation (IFC) reported 42.7 billion USD in financing. Several countries appreciated the good work of the World Bank during these tough times.
By Siva Kumar