Corona Virus: World Bank announces 12 billion USD aid

On March 3, 2020, the World Bank announced 12 billion USD to assist countries that are grappling with economic impacts of corona virus. The virus has reached 60 countries so far.

Highlights

The World bank is to provide the financial aid for the countries to act upon the needs and develop a fast response towards the spread of the virus. The financing is only to member countries whose economy is at stake due to the virus. Also, priority is to be given to those countries that are the poorest and are at highest risks.

Current Global Risk

The World Health organization in its recent report of Corona Virus Disease situation report says that so far the virus has killed 37 people outside China. Overall, 166 have died so far all over the world. Today, the number of COVID-19 cases is 10,566.

Scenario in India

India has so far relatively stayed safe in spite of China being a neighbor. So far 5 cases have been reported in India. The virus had badly affected the manufacturing sector of the country namely electronics, medicines, chemicals and textiles.

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