World Bank approves $1 billion emergency funds for India to tackle COVID-19 Outbreak
The World Bank has approved USD 1 billion emergency funding for India to help it tackle the coronavirus pandemic, which has claimed 76 lives and infected 2,500 people in the country. The World Bank’s first set of aid projects, amounting to USD 1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said on Thursday. The largest chunk of the emergency financial assistance has gone to India – USD 1 billion. “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response. In South Asia, the World Bank also approved USD 200 million for Pakistan, USD 100 million for