• In order to combat the Coronavirus outbreak, Work bank has approved $1 Billion emergency financing for India
• The lender approved a plan to roll out $160 billion in emergency aid over 15 months
• This will cover all states and Union Territories across India and address
• The amount will be utilised in the procurement of testing kits, setting up of new isolation wards, purchase equipment etc
• India will be the largest beneficiary of the first wave of programs
The Coronavirus outbreak has caused chaos worldwide. With the increase in the number of COVID-19 patients every day, most countries are now running short of resources and equipment.
Doctors have been complaining of not having proper protection to test the patients and lack of equipment. In order to combat the Coronavirus pandemic, the World Bank, on March 3, approved $1 billion emergency financing for India.To help countries deal with the impact of the global coronavirus pandemic, the Washington-based development lender approved a plan to roll out $160 billion in emergency aid over 15 months.
India has confirmed 2,301 cases so far and has recorded 56 deaths, the Union health ministry said on Friday last. In the last 24 hours, India has reported 336 cases. In order to help India prevent, detect, and respond to the COVID-19 pandemic and strengthen its public health preparedness the World Bank approved the amount.
This will cover all states and union territories across India and address the needs of infected people, at-risk populations, medical and emergency personnel and service providers, medical and testing facilities, and national and animal health agencies.
“The project will immediately enable the Government of India (GOI) to scale-up efforts to limit human-to-human transmission, including reducing local transmission of cases and containing the epidemic from progressing further. In parallel, interventions to strengthen the health system will be rolled out to improve the country’s capacity to respond to the COVID-19 epidemic and be better prepared to respond to emerging disease outbreaks, including transmission between humans and animals,” a World Bank statement said on Friday.
The amount will be utilized in the procurement of testing kits, setting up of new isolation wards -including turning hospital beds into intensive care unit beds - infection prevention and control, and purchase of personal protective equipment, ventilators, and medicines, particularly for district hospitals and designated infectious disease hospitals.
World Bank President David Malpass said, “We are working to strengthen developing nations' ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery."
"The poorest and most vulnerable countries will likely be hit the hardest, and our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis,” he added.
India will be the largest beneficiary of the first wave of programs with USD 1 billion, followed by Pakistan with USD 200 million and Afghanistan with a little over USD 100 million.
