WB allocates biggest anti-crisis funds to fight COVID pandemic

From April 2020 through the end of fiscal 2021, the World Bank Group committed over $157 billion - the largest crisis response in any such period of its history - to help countries fight the pandemic’s health, economic, and social impacts, Report informs referring to the World Bank Annual Report 2021.

“We have helped countries address the health emergency, procure billions of dollars of medical supplies, deploy COVID-19 vaccines, strengthen health systems and pandemic preparedness, protect the poor and vulnerable, support businesses, create jobs, promote growth, and expand social protection,” reads the report.

The World Bank has expanded its financing available for COVID-19 vaccines to $20 billion over two years - in fiscal 2021 alone, we committed $4.4 billion for 53 countries, according to the document.

“Working with WHO, Gavi, and UNICEF, we developed mechanisms for safe distribution in 140 low- and middle-income countries. We are partnering with the African Union and the Africa Centers for Disease Control to support the Africa Vaccine Acquisition Trust (AVAT) in order to help countries purchase and deploy COVID-19 vaccines for up to 400 million people across Africa. And we are working with the IMF, WHO, WTO, and other partners to track, coordinate, and advance delivery of vaccines to developing countries,” reads the report.