The World Bank has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments, aiming to support the vaccination of up to 1 billion people.
The $12 billion “envelop” is part of a wider World Bank Group package of up to $160 billion to help developing countries fight the COVID-19 pandemic, the bank said in a statement late Tuesday.
The World Bank said its COVID-19 emergency response programs are already reaching 111 countries.
Citizens in developing countries also need access to safe and effective COVID-19 vaccines, it said.
“We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” said the bank’s president, David Malpass, said in the statement.
“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help