Economic

World Bank: Corona exposes 60 million people to extreme poverty

The World Bank warned that “the economic stunt in developed countries due to the spread of the virus will lead to exposing 60 million people around the world to extreme poverty.” 

The bank announced providing medical assistance to 100 developing countries, as part of its support to combat the spread of the Corona virus, to the poorest and developing countries.

This came, in a statement issued by the World Bank, in which he said: “The bank’s assistance has reached 100 developing countries … with a total population of 70 percent of the world’s population.”

The statement pointed out that since last March, the bank recorded “a record increase in the rate of assistance provided to developing countries to support them in strengthening their health systems.”

The outbreak of the Corona virus caused varied harm among economies around the world. The poorest countries were the most affected by the stalled economy and the decline in aid.

World Bank: Corona exposes 60 million people to extreme poverty

In a statement to him, World Bank President David Malpas said, “The stopping of the economy in developed countries due to the spread of the virus will expose 60 million people around the world to extreme poverty.”

“Malpas” stressed that the World Bank is moving with the necessary speed to provide aid to the needy countries in light of the crisis.

He also stressed the need to “take serious and flexible decisions to achieve new global economic growth.”

He stressed the need to suspend the debt of poor countries, in light of the spread of the virus and its repercussions on it, in addition to encouraging and improving the investment climate in it.

The World Bank had previously pledged $ 160 billion in support for 15 months for developing countries; To mitigate the social and economic impacts of the spread of “Corona” in it.

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