(Image source from: Hindustantimes.com)
World Bank Approves 1 Billion USD For India To Fight Coronavirus:- The World Bank approved 1 billion USD as emergency financing to fight the coronavirus for India. Around 2500 people are tested positive with coronavirus currently and 76 people lost their lives. The World Bank is set to aid 1.9 billion USD for 25 countries and now they are moving to assist 40 nations across the globe. A larger amount of emergency financing reached India. This will be used for screening, tracking and diagnosis of coronavirus in the country. The World Bank informed about this after the Board of Executive Directors approved the emergency funds.
For South Asia, World Bank is said to have approved 200 million USD for Pakistan, 100 million USD for Afghanistan, 7.3 million USD for the Maldives and 128.6 million USD for Sri Lanka. The World Bank is now working to approve a grant of 160 billion USD in the next 15 months to tackle coronavirus. This is to focus on the health consequences faced by various nations of the globe. World Bank feels that there would be a huge financial crunch because of which poverty would be increased.
World Bank is now focused on pooling funds for the medical supplies. It is providing financial support for all the developing countries.