World Bank approves $12bn for developing countries to buy COVID-19 vaccines, treatments

The World Bank on Wednesday approved 12 billion dollars to help developing countries buy COVID-19 vaccines and treatments, the organisation said in a statement.

“The World Bank’s Board of Executive Directors today approved an envelope of 12 billion dollars for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens,” the bank said.

The World Bank seeks to support the vaccination of up to a billion people, the statement said.

The 12 billion dollars is part of the World Bank Group’s package to provide up to 160 billion dollars through June 2021 to help more than 100 countries.

The number of confirmed cases of the coronavirus disease worldwide has surpassed 38 million, Johns Hopkins University said.

The global tally currently stands at 38,041,143, with 1,084,888 deaths and 26,388,633 recoveries, the university said.

WHO declared the outbreak of the new coronavirus a pandemic on March 11.