Sierra Leone: As of April 16, the World Bank Group has approved vaccine projects in 17 countries amounting to $2 billion. The Group also expect to reach 50 countries amounting to $4 billion by mid-year.
On 13th October, 2020, $12 billion was approved for low- and middle-income countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens. In addition, the World Bank is working worldwide to redeploy resources in existing World Bank financed projects, including through restructuring and use of projects’ emergency components as well as contingent financing instruments designed for catastrophes, including pandemics.
The World Bank, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries respond to the health, social and economic impacts of COVID-19.
The financing builds on the broader World Bank Group COVID-19 response, which is helping more than 100 countries strengthen health systems, support the poorest households, and create supportive conditions to maintain livelihoods and jobs for those hit hardest.
COVID-19 vaccines, alongside widespread testing, improved treatment and strong health systems are critical to save lives and strengthen the global economic recovery. To provide relief for vulnerable populations, low- and middle-income countries need fair, broad, and fast access to effective and safe vaccines.
That’s why the World Bank is building on its initial COVID-19 response with $12 billion to help poor countries purchase and distribute vaccines, tests, and treatments. The first WB-financed operation to support vaccine rollout was approved in January 2021.