WB grants US$1 bn aid to India to battle coronavirus
As more and more people in the country continue to get infected by the Coronavirus contagion and lose their lives, the World Bank has approved US$ 1 billion emergency funding for India to help it tackle the pandemic. This is a part of the bank’s first set of aid projects, amounting to US$ 1.9 billion and has been disbursed to 25 countries. The largest chunk of the emergency financial assistance has been granted to India according to the bank.
The World Bank said “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards.” US$ 200 million for Pakistan, US$ 100 million for Afghanistan, US$ 7.3 million for the Maldives and US$ 128.6 million for Sri Lanka were also approved by the bank. It also stated that new operations are moving forward in over 40 nations using the fast-track process in order to fight Covid-19, the bank said on Thursday.