Funding is designed to help the Member States take an effective response to coronavirus.
The World Bank will provide $12 billion in emergency care to fight the outbreak of a new coronavirus.
This is stated in the statement of the financial organization.
вЂњWith COVID-19 spanning over 60 countries, the World Bank provides $12 billion in emergency care to address the medical and economic consequences of a global outbreak. This funding is designed to help the Member States respond effectively to the tragic consequences of coronavirus and where possible, mitigate their effects. вЂњ
The funds will go to вЂњassisting developing countries in strengthening health systems, including expanding access to health services.вЂќ
It is a question of a financial package that will provide low- and middle-income countries with grants and loans at low-interest rates.
вЂњWe are working to provide a quick and flexible response to the needs of developing countries in addressing the spread of COVID-19,вЂќ said WB President David Malpas. вЂњThis includes emergency funding, political advice and technical assistance based on existing tools and experience. World Bank to help countries respond to the crisis. вЂњ
Meanwhile, the leader of the Church of Jesus Sincheongji sect apologized for his organization becoming the main factor in the rapid spread of the coronavirus epidemic in South Korea.