World Bank says Covid-19 to push 60 mn into poverty; announces $160 bn assistance to 100 countries
WASHINGTON: The coronavirus pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth USD 160 billion in 100 developing countries to fight the deadly virus.
“The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty — erasing much of the recent progress made in poverty alleviation,” World Bank President David Malpass told reporters during a conference call on Tuesday.
“The World Bank Group has moved quickly and decisively to establish emergency response operations in 100 countries, with mechanisms that allow other donors to rapidly expand the programmes,” he said.
Source: The Economic Times
