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World Bank announces up to $12 billion for Wuhan coronavirus

Christian Fernsby |
The World Bank yesterday announced an initial $12 billion i funds to assist countries grappling with the health and economic impacts of Wuhan coronavirus.

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World Bank President David Malpass said there were still “many unknowns” about the fast spreading virus and “much more” aid might be required, but he declined to elaborate.

Malpass called on countries to coordinate their actions on a regional and international level, saying the speed and breadth of the response would be critical to saving lives.

“We’re announcing today an initial package of immediate support that will make available up to $12 billion to respond to country requests for crisis financing of their immediate needs and also to lessen the tragic impacts of the crisis,” he said.

“The point is to move fast; speed is needed to save lives,” Malpass said during a teleconference with reporters. “There are scenarios where much more resources may be required. We’ll adapt our approach and resources as needed.”

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