India to get $1 billion emergency fund from World Bank to fight COVID-19

World Bank
World Bank

On 2 April 2020, the World Bank approved an emergency fund of $1 billion for India.

The World Bank has approved USD 1 billion in emergency funds for India which has claimed 53 lives and infected more than 2,300 people in the country and to help it tackle the coronavirus pandemic.

$1 billion emergency financing will support better laboratory diagnostics, screening, procure personal protective equipment, contact tracing and set up new isolation wards in India.

The emergency fund of the World Bank is part of the first group of projects, amounting to $1.9 billion that will assist 25 countries.

The fund will also be used to set up new isolation wards and procure personal protective equipment in the country.

On 2 April, David Malpass, World Bank group president speaking about the initiative that health response operations are already moving forward in over 65 countries.

The pandemic of coronavirus has already 53 people succumbing to the disease and affected over 2,300 people in India.

The world bank is taking rapid action to reduce the spread of coronavirus COVID-19, David Malpass added.

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The largest chunk of the emergency financial assistance has gone to India, the world bank said on Thursday.