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World Bank Approves USD 12 Billion Package To Emerging Economies For COVID-19 Vaccine Purchase

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Various pharmaceutical companies are investing billions of dollars to speed the development of the COVID-19 vaccine. Meanwhile, the World Bank has approved USD 12 Billion to emerging countries for the purchase and distribution of coronavirus vaccine.In a statement, the bank said that the financing “aims to support vaccination of up to billion people.” The approved finance is part of the World Bank Group (WBG) package to fight against the COVID-19 pandemic.

Under this package, the bank has pledged to support over 100 countries to provide them financial support over a period of 15 months.

Out of 100 countries, one-third of them are in conflict-affected situations such as Afghanistan, Niger, and Haiti.The World Bank also added in a statement.

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