World Bank Group to Deploy $160 Billion for COVID-19 Interventions
The World Bank Group would be deploying to the tune of $160 billion over 15 months through June 2021 for COVID-19 interventions, according to its 2020 Annual report.
- The interventions would be through a series of new operations, the restructuring of existing ones, the triggering of catastrophe drawdown options, and support for sustainable private sector solutions that promote restructuring and recovery.
- “The World Bank deployed the first set of projects under this facility in April, aimed at strengthening health systems, disease surveillance, and public health interventions. To soften the economic blow, IFC and MIGA moved quickly to provide financing and increase access to capital to help companies continue operating and paying their workers”.
- International Finance Corporation (IFC) – a member of World Bank Group expects to provide $47 billion in financial support through June 2021 as its part of the Bank Group’s response.
Photo courtesy of Adam Nieścioruk.