World Bank Deploys Over $157B in Last 15 Months to Fight Covid Pandemic

In its largest-ever crisis response, the World Bank has deployed over $157 billion to fight the impact of the Covid-19 pandemic on health, economic and social fronts over the last 15 months.

This represents an increase of more than 60% over the 15-month period prior to the pandemic, the bank said on Monday.

“Since the start of the pandemic, the World Bank Group has committed or mobilized a record $157 billion in new financing, an unprecedented level of support for an unprecedented crisis,” World Bank Group President David Malpass said. “We will continue to provide critical assistance to developing countries through this ongoing pandemic to help achieve a more broad-based economic recovery,” he said.

The Bank Group has proven to be a rapid, innovative, and effective platform to support developing countries as they respond to the pandemic and strengthen resilience for future shocks, Malpass said. “But we must still do more,” he said, adding that he remains deeply concerned about the limited availability of vaccines, which are critical to saving lives and livelihoods, for developing countries.

According to a press release, support to countries from the International Bank for Reconstruction and Development totaled $45.6 billion. S-ET

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