World Bank Allocates $12 Billion for COVID-19 Vaccines in Developing World

October 14, 2020

The World Bank has approved $12 billion to help low-income countries combat COVID-19 and protect their citizens.

The financing, which aims to support vaccination of up to 1 billion people, is part of the global organization’s $160 billion plan allocated through June 2021 to promote coronavirus prevention and treatments.

The $12 billion will provide COVID-19 treatments and tests and assist with supply-chain and logistics management, such as implementing proper vaccine storage, hiring trained vaccinators and creating large-scale community outreach.