The World Bank is giving 9.3 billion to the poorest countries
Coronavirus epidemics have devastated economies around the world. The World Bank has announced special financial assistance of US 9.3 billion to improve the situation of poor countries. The company made the announcement on Wednesday.
According to the AFP news agency, this is the largest financial support from the International Development Association (IDA), the World Bank’s lending partner. The World Bank provides financial assistance to 64 countries. Most of these countries are in Africa.
Announcing the funding, the World Bank said the fund would help deal with any future crises, including epidemics and natural disasters.
Of the money that is being provided by the World Bank, 23.5 billion has come from high and middle income countries. In addition, money came from the capital market and the World Bank’s own funds. World Bank President David Malpas sees this as an important step in tackling the corona crisis in poor countries.
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