Date
Timeline Description

The World Bank Group intends to deploy up to $160 billion over the following 15 months, including $50 billion of IDA resources. 

Detail Description

The World Bank’s Board of Executive Directors approves the first set of emergency support operations for developing countries to aid in their response to the COVID-19 (coronavirus) response. While these first projects amount to $1.9 billion in funding and will assist 25 countries, the World Bank Group intends to deploy up to $160 billion over the following 15 months, including $50 billion of IDA resources on grant and highly concessional terms, to help countries respond to immediate health consequences and bolster economic recovery. Bank Group President David Malpass emphasizes that there will be a strong poverty focus in the operations, saying, "The poorest and most vulnerable countries will likely be hit the hardest, and our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis.” The World Bank Group's work to mitigate the effects of COVID-19 will also extend to a call for action on the debt of countries most vulnerable to the virus's economic impacts. In the weeks that follow, G20 countries will, at the urging of the World Bank Group and International Monetary Fund (IMF), commit to the suspension of bilateral debt payments for the world's poorest countries.

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World Bank Group approves first funding for COVID-19 response
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Press release outlining the various projects approved as part of the COVID-19 funding (online resource).

Resource
Description

April 2, 2020
The press release outlines the various projects approved as part of the funding. 

Event
95
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Press release -- World Bank launches first operations for COVID-19 emergency health support
Title
Press release -- World Bank launches first operations for COVID-19 emergency health support
Title
Update on IDA Contribution to COVID-19 Pandemic Response
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Update on IDA Contribution to COVID-19 Pandemic Response
Description

Document date: April 23, 2020
The report describes how IDA is in a strong position to respond rapidly and flexibly to the evolving needs of IDA countries.

Title
Remarks by President Malpass during press call on operations approval
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Remarks by President Malpass during press call on operations approval
Description

Document date: April 2, 2020
President Malpass describes how the World Bank Group is taking broad, fast action to support over 65 countries.

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