WB board approves $12bn for COVID-19 vaccines, treatments in developing countries

The World Bank said its executive board approved on Tuesday $12 billion in new funding for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their citizens.

The financing plan, part of $160 billion in total resources that the multilateral development lender has pledged to provide to developing countries through June 2021 to help them fight the coronavirus pandemic, was first reported by Reuters in late September. 

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