2024-10-01 06:19:28
About 60 million people in the world may end up in extreme poverty due to the coronavirus pandemic, according to the president of the World Bank, David Melpass.
“The pandemic and work stoppages in developing economies could push nearly 60 million people into extreme poverty. It will have a negative impact on a significant part of the achievements made in recent years in the fight against poverty,” said Melpas.
He noted that in order to return to economic growth, it is necessary to respond quickly and flexibly to the emergency situation, to provide assistance to the poor segment of society, including financial assistance. We need to support the private sector and strengthen the stability of the economy.
The announcement states that the World Bank has provided support to 100 countries, whose population makes up 70 percent of the world’s population, within the framework of the fight against the pandemic.
In total, the World Bank commits to allocate 160 billion dollars in the form of grants, debt and investments in 15 months to fight against the coronavirus.