World Bank announces $12 billion financial package for countries battling coronavirus

World Bank on Tuesday, March 3, anunced up to $12 billion in immediate assistance to countries coping with health and ecomic impacts of vel coronavirus. According to a press statement released by group, new fast track pack will be for developing countries to help strengn ir health systems. financing for pack was drawn from International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and International Finance Corporation (IFC), statement said.

Re: Amid Coronavirus Scare, World Bank,IMF To Hold Annual Spring Meetings In 'virtual Format'

World Bank Group President David Malpass in statement said, "We are working to provide a fast, flexible response based on developing country needs in dealing with spre of COVID-19. This includes emergency financing, policy vice, and technical assistance, building on World Bank Group's existing instruments and expertise to help countries respond to crisis."

Re: 'We Are Extra Vigilant After Coronavirus Cases Rise In India': Kerala Health Minister

According to statement, financial pack will provide grants and low-interest loans from IDA for low-income countries and loans from IBRD for middle-income countries, using all of Bank’s operational instruments with processing accelerated on a fast track basis.

statement furr states that  International Finance Corporation, World Bank Group’s private sector arm, will provide its clients with necessary support to continue operations and sustain jobs. 

Re: Jammu & Kashmir ministrative Gears Up To Fight Against vel Coronavirus Outbreak

Coronavirus outbreak

new coronavirus also kwn as COVID-19 has claimed more than 3,100 lives across globe and has infected over 92,000 people since December 2019. According to reports, at least 175 people have died outside mainland China, which makes it worst disease outbreak in 21st century.

Iran and Italy have reported most number of deaths outside China due to COVID-19. virus originated from a seafood market in Wuhan city, where animals were being tred illegally. Hubei province in China has been most affected by contagious disease, which is also epicentre of virus. 

Re: Helpdesk, Passenger Screenings At Luckw International Airport To Curb Coronavirus Spre

Le Im Credit: AP