$1 billion approval from World Bank as emergency funds to fight against COVID-19: India

World Bank has recently approved the most substantial chunk of relief funds for India to help and support in tackling the COVID-19 pandemic, which has claimed more than 75 lives and infected more than 2500 people around the country. This relief fund will help fight against COVID-19 and will finance better screening, setting up new isolation wards, medical protective equipment, laboratory diagnostics, and contact tracing.

In Asia, the World Bank has approved 100 million dollars for Afghanistan, 128.6 million dollars for Sri Lanka, 100 million for Pakistan, and 7.3 million for the Maldives. The World Bank commented that it is now working to give relief grants for 160 billion dollars over the next year to support preventive steps to tackle the world economy from this pandemic.

The economic program ran by World Bank will plan to speed up the time of recovery of economies, help and protect the vulnerable countries, support small and medium businesses, create conditions for employment, will work on growth rate.

The world bank group is aiming to reduce the widespread of COVID-19 and fasten the steps to take preventive measures against it. The developing countries are most vulnerable to this pandemic, and world bank teams around the globe are working to stay focus on the country level.

As per the data by John Hopkins University, more than 1 million people are COVID-19 positive, and around 51,000 have lost their jobs due to this respiratory disease.

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