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Published On: Thu, Apr 2nd, 2020

World Bank okays first $1.9 bln in emergency funds for pandemic response

WASHINGTON, April 2 (Reuters) – The World Bank on Thursday said its board of executive directors approved an initial $1.9 billion in emergency funds for coronavirus response operations in 25 countries and said it was moving quickly on projects in 40 additional countries.

In addition, the World Bank said it was working to redeploy resources in existing World Bank-financed projects worth up to $1.7 billion. The Bank has said it is prepared to spend up to $160 billion over the next 15 months to combat the virus.

India, the third-largest economy in Asia, will receive $1 billion of the funds approved on Thursday to support better screening for the virus, contact tracing, and laboratory diagnostics; pay for personal protective equipment; and set up new isolation wards for those infected. (Reporting by Andrea Shalal, Editing by Franklin Paul)

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