translated from Spanish: World Bank raises coronavirus aid package to $14 million

The World Bank has decided to raise by $2 billion (1.816 million euros), to 14 billion (12.723 million euros), its aid package against the impact of the Covid-19 coronavirus on the economy, the agency reported on Tuesday in a Statement. The Washington-based institution has approved increasing “rapid funding” grants to assist companies and countries in their efforts to “prevent, detect and respond to the rapid progress of Covid-19,” said the World Bank.The aid” will strengthen the preparation of national health systems, including the areas of disease containment, diagnosis and treatment. Most of the funds will go to financial institutions to continue to provide financing to companies facing problems from disruption of supply chains. It will also support individual companies in affected sectors, such as tourism or manufacturing.” It is essential that we shorten the recovery time. This package provides urgent assistance to businesses and their workers to reduce the economic and financial impact of the expansion of Covid-19,” said World Bank President David Malpass.



Original source in Spanish

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