World Bank approves $1 billion emergency fund for India to fight coronavirus
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The fund will be deployed over the next 15 months with $160 billion to support coronavirus measures which will help respond to health concerns arising out of the COVID-19 outbreak
As the country battles the coronavirus pandemic, the World Bank on Thursday approved $1 billion emergency financing to India in order to support better screening of COVID-10 patients, contact tracing and laboratory diagnostics.
"In India, $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 in a statement.
The fund will be deployed over the next 15 months with $160 billion to support coronavirus measures which will help respond to health concerns arising out of the COVID-19 outbreak and bolster economic recovery.
"This fast response package will save lives and help detect, prevent and respond to COVID-19 crisis in the countries we serve," Axel van Trotsenburg, World Bank, managing director of operations, said.
"Our country operations will be coordinated at a global level to ensure best practice is quickly shared, including approaches to strengthen national health systems and prepare for potential follow-on waves of this devastating virus," Trotsenburg added.
The World Bank has also approved $100 million to help Afghanistan to slow the virus and $200 million for Pakistan to fight the disease.
"The World Bank is taking broad, fast action to reduce the spread of COVID-19 and we already have health response operations moving forward in over 65 countries," President, David Malpass said, adding,"our country operations will be coordinated at a global level to ensure best practice is quickly shared, including approaches to strengthen national health systems and prepare for potential follow-on waves of this devastating virus."
(With ANI inputs)