Emergency COVID-19 Fund: World Bank Fast-Tracks $1 Billion To India

The World Bank has approved 1 billion dollar emergency financing for India to tackle the COVID-19 outbreak. It has claimed 76 lives and infected 2500 so far. In South Asia, the World Bank also approved USD 200 million for Pakistan, USD 100 million for Afghanistan, USD 7.3 million for Maldives and USD 128.6 million for Sri Lanka. However, the largest chunk of the emergency financial assistance has gone to India, followed by Pakistan with USD 200 million and Afghanistan with a little over USD 100 million “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world. The World Bank has further said that it is now working to grant upto 160 billion dollars over the next 15 months to support measures to tackle the pandemic. The World Bank is encouraging others to provide financial support to developing countries for the COVID-19 health response.

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