Washington, Oct 14,2020: The World Bank has announced that its Board of Executive Directors has approved 12 billion US dollars for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their citizens.
The financing, which aims to support vaccination of up to 1 billion people, is part of an overall World Bank package of up to 160 billion dollars through June 2021 to help developing countries fight the pandemic, according to a statement released on Tuesday.
It adds new financing to the World Bank’s COVID-19 emergency response programs that are reaching 111 countries, the statement noted.
“We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” World Bank Group President David Malpass said.
“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help countries experiencing catastrophic economic and fiscal impacts move toward a resilient recovery,” Malpass said.
