World Bank on Thursday sanctioned 1 billion dollar (approx. Rs 7619 crore) as emergency fund for India to fight against COVID-19. Other than India, the bank has also approved funds to countries like $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for Maldives and $128.6 million for Sri Lanka.
World Bank Group President David Malpass said that World Bank is taking broad and fast action to reduce the spread of Coronavirus. As per a report in IndiaToday, Malpass said, “We are working to strengthen developing nations’ ability to respond to the COVID-19 pandemic 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.”
The World Bank in its media statement said that it is helping countries to access the medical supplies by reaching out to the suppliers on behalf of the government and encouraging others to provide financial support to developing countries to fight the epidemic.