World Bank announces 12bn aid to combat coronavirus outbreak

World Bank has unveiled a 12 billion dollar aid package that will provide fast-track funds to help countries combat the coronavirus outbreak.

World Bank President David Malpass told reporters that the goal is to provide fast, effective action that responds to country needs. The funds, some of which are targeted to the world’s poorest nations, can be used for medical equipment or health services and will include expertise and policy advice.

Malpass said the money will go to countries that request help. The bank has been in contact with many member nations, but he did not specify which are likely to be the first to receive aid.