Home International World Bank announces $160 bn assistance to 100 countries

World Bank announces $160 bn assistance to 100 countries

by the owl speaks

The coronavirus pandemic is predicted to put more than 60 million people worldwide in severe poverty, the World Bank said as it declared emergency operations worth 160 billion dollars in 100 developing countries to combat 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 poverty alleviation progress made, World Bank President David Malpass told reporters during a conference call on Tuesday.

“The World Bank Group has moved rapidly and decisively to set up emergency response operations in 100 countries with mechanisms that enable other donors to expand the programs rapidly,” he said.

Of the 100 countries, home to 70 percent of the world’s population, 39 are in Sub-Saharan Africa. Nearly one-third of the total projects are in fragile and conflict-affected situations, such as Afghanistan, Chad, Haiti, and Niger.

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