The World Bank has approved $12 billion to help developing countries to buy COVID-19 vaccines.
The organisation announced this in a statement on Wednesday.
“The World Bank’s Board of Executive Directors today approved an envelope of 12 billion dollars for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens,” it read.
The vaccination support targets up to a billion people. The fund is part of the World Bank Group’s package to provide up to $160 billion through June 2021. The aid will reach more than 100 countries.
Confirmed cases of coronavirus has exceeded 38.4 million worldwide. The number of death could hit 1.1 million this weekend. COVID-19, first reported in Wuhan district of China, was declared a pandemic in March. The first casualty officially announced died on January 11, 2020.