The World Bank on Thursday approved USD 1-billion emergency financing for India to tackle the coronavirus outbreak.

The World Bank’s first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said.

The largest chunk of the emergency financial assistance has gone to India — $1 billion. In South Asia, the World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for Maldives and $128.6 million for Sri Lanka.

“In India, $1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

Can read more at financialexcpress.com

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