The World Bank Group President David Malpass stated on Tuesday that the development leader has launched the emergency coronavirus or COVID-19 aid programs in 100 developing nations, with commitments for the concessional financing and the grants of around $5.5 billion so far.
Malpass told reporters on a conference call that the global pandemic and associated economic shutdowns could push as many as 60 million people into extreme poverty, erasing the previous three years of poverty alleviation, with a global economic contraction of perhaps five percent this year.
Development leader Launched Emergency COVID-19 Aid Programs in 100 Nations
The deadly virus outbreak has created a major stir around the world in recent times claiming the lives of more than 310,000 people worldwide and also infected over 4.8 million people globally. The virus that originated from the Chinese city of Wuhan in Hubei province has spread to more than 170 countries.
(With agency inputs)