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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 worldÂ’s poorest countries. Both institutions provide financing, policy advice, and technical assistance to governments of developing countries.

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