• Tuesday, Mar 31, 2020
  • Last Update : 12:21 am

World Bank approves $14bn package for Covid-19

  • Published at 11:36 pm March 18th, 2020
World Bank
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Bangladesh wants $100 million in assistance from the World Bank

The Worlds Bank and IFC’s Boards of Directors have approved a $14 billion package of fast-track-financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of Covid-19.

The World Bank group said this package will strengthen national systems for public health preparedness, including for disease containment, diagnosis, and treatment, and support the private sector, according to a press release from the World Bank on Wednesday.

“It’s essential that we shorten the time to recovery. This package provides urgent support to businesses and their workers to reduce the financial and economic impact of the spread of COVID-19,” said David Malpass, president of the World Bank Group. 

Previously, Bangladesh sought for $100 million in assistance to combat the health and economic impacts of the coronavirus pandemic from the World Bank.

So far, Bangladesh has recorded its first coronavirus death on Wednesday. A total of 14 people were confirmed as coronavirus infected as of now.

More than 2,000 people are also in isolation at different hospitals in eight divisions of the country.

The Asian Development Bank (ADB) on Wednesday also announced a $6.5 billion initial package to address the immediate needs of its developing member countries (DMCs) as they respond to the novel coronavirus (COVID-19) pandemic.

The new coronavirus strain has so far infected more than 174,600 people and killed over 6,600 people in 162 countries and territories, according to worldometer.