| 20 May 2024, Monday |

World Bank says will boost financing for COVID-19 vaccines to $20 billion

The World Bank will boost its total financing for COVID-19 vaccine purchases and deployment to $20 billion from its previous target of $12 billion, World Bank President David Malpass said on Wednesday.

The global development bank has seen a sharp increase in overall financing demand from developing countries – not just health related expenditure – during the pandemic, the bank’s managing director for operations, Axel van Trotsenburg, said.

He told reporters the World Bank had made nearly $100 billion in lending commitments since the outbreak of the crisis in early 2020, well above the normal level of just under $60 billion. High demand for financing was expected to continue well into 2022, he said.

  • alarabiya