“The objective is to provide rapid and effective action that meets the needs of countries”said David Malpass, President of the World Bank, during a conference call.
He also stressed the need to “recognize” that the virus was placing an additional burden on poor countries.
The funds, some of which go to the world’s poorest countries, can be used to buy medical equipment or provide health services and will include expertise and political advice, the Washington institution said in a statement.
“The objectives are simple. We must limit human-to-human transmission, treat patients as soon as possible, reduce transmission in communities (…) and minimize the social and economic impact”, he also commented.
David Malpass argued that countries can rely on “historical know-how” Bank, with its experience in previous epidemics such as Ebola, SARS or Zika.
“You have to go fast” because the challenge is to save lives, also said the boss of the Bank.
In this effort, which must be collective, flexibility and responsiveness will be “Crucial”, he also stressed.
The number of cases of new coronavirus worldwide rose on Tuesday to more than 92,000, including more than 3,155 deaths, in 78 countries.
On Monday, David Malpass and the Managing Director of the International Monetary Fund Kristalina Georgieva said that the two institutions had “emergency plans with immediate funding” ready to be deployed.
They then mentioned “rapid financing instruments, rapid credit facility to support countries” who would request it. The Bank and the IMF have so far not named countries.
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