Coronavirus (COVID-19)

World Bank to increase COVID-19 vaccine funding to $20 billion

Azerbaycan24 – The World Bank on Wednesday pledged to boost available funding for COVID-19 vaccine purchases and deployment to $20 billion from a previous target of $12 billion, citing a sharp increase in overall financing demand from developing countries, according to Reuters.

World Bank President David Malpass said the global development bank had already provided more than $4 billion to 51 developing countries for the purchase and deployment of COVID-19 vaccines, and would add billions for 25 more countries soon.

“Much more will follow in coming weeks,” Malpass told reporters, noting that a total of 41 requests had been received from African countries, where less than half the population has been vaccinated.

In a joint statement, the World Bank, the International Monetary Fund and the World Health Organization urged G20 countries to embrace vaccinated population targets of at least 40% by the end of 2021 and 60% by the first half of 2022.

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