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The global financial institution World Bank has announced that it delivered $10 million in emergency funding to Pacific island country Vanuatu to support the country’s response to the combined impacts of the global COVID-19 (coronavirus) pandemic and Tropical Cyclone Harold.

The World Bank supports Vanuatu through Development Policy Grant with a Catastrophe-Deferred Drawdown Option. The on time funding will support the government’s ongoing work to protect Vanuatu from the global COVID-19 pandemic and boost its capacity to respond to the immediate economic impacts.

The World Bank measures against COVID-19 pandemic in last two months:

  • April 2020: The World Bank has approved approximately $37 million an immediate funding to Malawi’s fight against global pandemic. The fund helps COVID-19 Emergency Response and Health Systems Preparedness project of the country.
  • April 2020: Coronavirus (COVID-19) epidemic is spreading to whole world. In response to this the World Bank has announced an emergency fund of $20 million for Papua New Guinea (PNG) to fight against COVID-19. The World Bank’s emergency fund will support PNG to focuses on health workers and others in the response effort, helping health authorities quickly scale-up testing capacity, and strengthening public education to combat the spread of the virus in the country.

April 2020: Under COVID-19 emergency the World Bank has announced a fast-track financing of $100 million to help Bangladesh prevent, detect, and respond to the COVID-19 (Coronavirus) pandemic. The fund will benefit the citizens of the country with suspected and confirmed infections, at-risk populations, medical and emergency personnel and it also helps public and private service providers, medical and testing facilities, and the health infrastructure of the country.

The Bangladesh has roll out nation-wide COVID-19 Emergency Response and Pandemic Preparedness Project to help upgrade selected health facilities and laboratories to detect, manage and treat suspected and confirmed COVID-19 cases. The project also helps to increase the screening facility in Bangladesh’s designated health facilities and entry points.

  • April 2020: Coronavirus (COVID-19) epidemic is now spreading to whole world. The World Bank has announced its first set of emergency support operations for developing countries around the world. The group will be using a dedicated, fast-track facility for COVID-19 response. The World Bank Group is planning to provide up to $160 billion over the next 15 months to support COVID-19 measures that will help developing countries to respond immediate health consequences of the pandemic and bolster economic recovery.As per first set of emergency support projects, the group will assist 25 affected countries with $1.9 billion, and new operations are moving advancing in around 40 other countries using the fast-track process. The World Bank is also working globally to redeploy resources in existing World Bank financed projects worth up to $1.7 billion, including through restructuring, use of emergency components of existing projects (CERCs) and triggering of CAT DDOs and spanning every region. Due to lockdown there is widespread supply chain disruptions, the World Bank is also helping countries access critically needed medical supplies by reaching out to suppliers on behalf of governments.

In April 2020, The World Bank released $150 million for Dominican Republic in support to contain the spread of COVID-19 (coronavirus) and manage the impact of the pandemic.

In March 2020, The COVID-19 pandemic reaches to more than 60 countries , the World Bank Group announced an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to tragic impacts posed by the COVID-19 (coronavirus).

About World Bank Group
World Bank Group, headquartered in Washington D.C., United States, is a global financial institution. The group provides loans and grants to the poorer countries across the globe. The World Bank has around 189 member countries and having staff from more than 170 countries of the world. The group has offices at around 130 locations across the globe.
The World Bank Group comprises of International Bank for Reconstruction and Development (IBRD), focuses on middle-income and creditworthy poorer countries and the International Development Association (IDA) on the world’s poorest countries. Both institutions provide financing, policy advice, and technical assistance to governments of developing countries.

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