President David Malpass says the board of the financial institution is finalising a package of coronavirus relief valued at up to $160 billion over the next 15 months.“The goals are to shorten the time to recovery, create conditions for growth, support small and medium enterprises, and help protect the poor and vulnerable,” Mr Malpass said.
The World Bank earlier this month approved 14 billion dollars in loans and grants to bolster coronavirus medical responses, an amount that is included in the 160 billion dollars. World Bank Group entities are restructuring existing projects in 24 countries to direct funds to the health emergency.
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