World Bank donates huge Amount of Money for COVID-19 vaccines in developing countries

Oyogist.com learned that the World Bank on Tuesday, approved the sum of US$12 billion to help cover the purchase and distribution of COVID-19 vaccines, tests and treatments in developing countries.

World Bank said up to 1 billion people would benefit from the financing, stating that it is part of an overall World Bank package of up to US$160 billion through June 2021 to help developing countries fight the pandemic, according to a statement.

“We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” World Bank Group President David Malpass said.

“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help countries experiencing catastrophic economic and fiscal impacts move toward a resilient recovery,” The President further stated.