World Bank to roll out USD 160 bln emergency aid over 15 months

The World Bank on Thursday approved a plan to roll out USD 160 billion in emergency aid over 15 months to help countries deal with the impact of the global coronavirus pandemic.

The board of the Washington-based development lender announced the first set of fast-track crisis funding, with an initial USD 1.9 billion going to projects in 25 countries, and operations moving forward in another 40 nations, the bank said in a statement.

"We are working to strengthen developing nations' ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery," said World Bank President David Malpass.