World Bank Offers $12 Billion Aid Package to Fight Against Coronavirus – Research Snipers

World Bank Offers $12 Billion Aid Package to Fight Against Coronavirus

aid package

The World Bank steps in to provide countries affected with coronavirus aid packages which are in the form of grants, technical assistance and loans. The aid packages are of around $12 billion and the entire package is for the sake of fighting against this virus.

A positive action comes as world leader vowed support outside borders in a proposal to stop the economic impact of the virulent disease.

The World Bank is terrified that such economic slowdown will cause recession into the countries. This aid is for the help of the nations so that they can improve their public health response especially the emergencies at hand to soften the economy.

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President of the World Bank group David Malpass told BBC that they are trying to at least limit the broadcast of the disease.

The distribution of the aid will rely on how poor a country is and which country is at high risk. $6 billion is coming from the IFC (International Finance Corporation) of the World Bank and the other remaining half are coming from the available funds in the budget.

The World health organization said that all across the globe 92,000 people are affected with this virus out of which 3000 have died.

China is using different methods to control the outbreak. China reported 38 new cases on Wednesday but still, the number of fresh cases has reduced. 516 cases have been reported in South Korea and according to the total tally over 5,300 people are affected by this outbreak in South Korea.

Mr Malpass says that fast speed is required to save people’s lives. At some point there will be scenarios where a lot of resources will be needed, he says they will adapt resources as much as they can.

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