World Bank pledges $12bn in emergency aid | Coronavirus

The World Bank is an international financial organization offering loans and grants to governments of poorer countries that have agreed to pledge $12 billion in emergency coronavirus aid.

World Bank Group President David Malpass said it would Focus on the poorest and most at-risk countries top on the list. Distributing aid to more than 70 countries around the world counter the effects of the virus. The package provided by World Bank half of the package comes from the international finance corporation which is works with the private sector. Authorities have confirmed more than 92,000 cases of the infection worldwide of which more than 80,000 are in China. In excess of 3,000 have died globally, the vast majority in China. Experts have cautioned that the economic slowdown from the outbreak could tip unsteady nations into recession, in this way the World Bank has expressed they intend to work with the private sector to decrease the economic impact. Leaders around the world promised to protect their country from the biggest upcoming economic impact.