World Bank sanctions $1 billion emergency aid to India to fight coronavirus

April 3: The World Bank has approved $1 billion fund to help India prevent, detect, and respond to the covid-19 outbreak and strengthen its public health preparedness. “In India, USD 1 billion emergency financing will support better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment; and set up new isolation wards,” the World Bank said after its Board of Executive Directors approved the first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response.

The World Bank’s first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said. The largest chunk of the emergency financial assistance has gone to India — $1 billion.

The fund will be utilised for procurement of testing kits, setting up of new isolation wards–including turning hospital beds into intensive care unit beds–infection prevention and control, and purchase of personal protective equipment, ventilators, and medicines, particularly for district hospitals and designated infectious disease hospitals.