World Bank puts forwards $12bn for poor countries to get COVID vaccine

The World Bank has announced plans to start a $12 billion initiative is aimed at poor countries receiving a COVID-19 vaccine.

Published Thu, Oct 1 2020 2:31 AM CDT   |   Updated Mon, Nov 2 2020 10:54 PM CST

A new plan has been announced by the World Bank that will see a $12 billion initiative put forward that allows poor countries to purchase a COVID-19 vaccine when it's ready.

World Bank puts forwards $12bn for poor countries to get COVID vaccine 79 |

The new initiative is an attempt on the World Bank's behalf to make sure poor countries don't miss out on a COVID-19 vaccine. The World Bank has asked its shareholders to back the initiative as the pandemic is affecting the low and middle-income countries more than the ones in the developed world. According to David Malpass, the World Bank president, "Having this finance available will be a game-changer because once a safe and effective vaccine is available, it will allow people to resume their lives with confidence."

The idea behind this new plan is that the World Bank recognized that countries that have higher-income had reserved many of the COVID-19 vaccine doses. The World Bank wants to make sure low and middle-income countries have access to the vaccine as well. Additionally, the bank believes that the global economy will not recover fully until everyone, including low and middle-income countries, can live, socialize, work, and travel with confidence.

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