World Bank Approves USD 12 Billion For Developing World's COVID-19 Fight

The World Bank approved USD 12 billion to help developing countries purchase novel coronavirus (COVID-19) vaccines and treatments, the organization said in a statement.

"The World Bank's Board of Executive Directors approved an envelope of USD 12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens," the release said.

The World Bank seeks to support the vaccination of up to a billion people, the release said.

The USD 12 billion is part of the World Bank Group's package to provide up to $160 billion through June 2021 to help more than 100 countries.