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World Bank unveils $12 bn aid package to combat coronavirus

World Bank unveils $12 bn aid package to combat coronavirus

The World Bank unveiled a $12 billion aid package on Tuesday that will provide fast-track funds to help countries combat the coronavirus outbreak.

"The goal is to provide fast, effective action that responds to country needs," World Bank President David Malpass told reporters.

He said it is critical to "recognise the extra burden on poor countries" least equipped in the struggle to prevent the spread of the COVID-19 virus.

The funds, some of which are targeted to the world's poorest nations, can be used for medical equipment or health services and will include expertise and policy advice, the bank said in a statement.