World Bank has approved a fast-track U.S. $ 1 billion aid under the aegis of COVID-19 Emergency Response and Health Systems Preparedness Project to India
The Board of Executive Directors of World Bank has approved a fast-track U.S. $ 1 billion aid under the aegis of COVID-19 Emergency Response and Health Systems Preparedness Project to India.
This is the largest ever health related financial aid extended to India. The funds will address the needs of the infected people, at-risk populations, medical and emergency personnel, service providers, medical and testing facilities and animal health agencies, across all the States and Union Territories (U.T.)
A statement from World Bank read, “The project will immediately enable the Government of India (GOI) to scale-up efforts to limit human-to-human transmission, including reducing local transmission of cases and containing the epidemic from progressing further. In parallel, interventions to strengthen
the health system will be rolled out to improve the country’s capacity to respond to the COVID-19 epidemic and be better prepared to respond to emerging disease outbreaks, including transmission between humans and animals.”
The funds will also be used for procuring testing kits, setting up new isolation wards, including turning hospital beds into Intensive Care Unit (ICU) beds, drives for preventing and controlling the outbreak, purchasing personal protective equipment, ventilators and medicines.
Apart from India, the World Bank has also decided to assist other developing countries in fighting the outbreak. It will provide an aid of U.S. $ 200 million to Pakistan, U.S. $ 100 million to Afghanistan, U.S. $ 7.3 million to Maldives and U.S. $c128.6 million to Sri Lanka.
Making the announcement, the President of World Bank Group – David Malpass tweeted, “The @WorldBank Group is taking broad, fast action to reduce the spread of #COVID19. Today’s Board approval allows us to continue this important work & further strengthen developing nations’ ability to respond.”
The @WorldBank Group is taking broad, fast action to reduce the spread of #COVID19.
— David Malpass (@DavidMalpassWBG) April 2, 2020
Today’s Board approval allows us to continue this important work & further strengthen developing nations' ability to respond.
Read more here: https://t.co/Y8dTkxalhM
The Official twitter handle of World Bank India tweeted, “In its war against #COVID19, @WorldBank extends $1billion support to #India’s health sector. Learn more here: http://wrld.bg/Iugl50z42rN #CoronaVirus”
In its war against #COVID19, @WorldBank extends $1billion support to #India’s health sector.
— World Bank India (@WorldBankIndia) April 3, 2020
Learn more here: https://t.co/nCzDHhhgqm#CoronaVirus pic.twitter.com/6SdhXSm5tZ
Afghanistan will use the funds to slowdown and limit the spread of COVID-19 through enhanced detection, surveillance and laboratory systems. It will also strengthen essential health care delivery and intensive care. Pakistan will use the funds to support preparedness and emergency response in the health sector. The funds will also help for providing social protection to poor and vulnerable people and for creating awareness in the country.
Apart from this, World Bank has said it is now working to grant up to U.S. $ 160 billion over the next 15 months to support measures in combating the pandemic which will focus on the immediate health consequences and bolster economic recovery. This will shorten the time to recovery, foster economic growth and will benefit the vulnerable section of the society.
Meanwhile, the total number of cases in India have increased to 3072 and there have been 75 casualties.
