Covid-19 crisis: World Bank to rescue with $160-billion aid to 100 nations

'Covid, shutdown may push as many as 60 mn people into extreme poverty'

The Covid-19 pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth $160 billion in 100 developing countries to fight the deadly virus.

“The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty — erasing much of the recent progress made in poverty alleviation,” World Bank President David Malpass told reporters during a conference call on Tuesday. “The World Bank Group has moved quickly and decisively to establish emergency response operations in 100 countries, with mechanisms that allow