The World Bank on Tuesday said it had increased to $14 billion the amount of fas...
WASHINGTON - The World Bank on Tuesday said it had increased to $14 billion the amount of fast-track financing available to members to respond to the global coronavirus pandemic, adding $2 billion to an initial package announced on March 3.
It said the bulk of the funding would be used by client financial institutions so they can continue to offer trade financing, working capital and medium-term financing to private firms struggling with disruptions in supply chains. “It’s essential that we shorten the time to recovery,” Malpass said. “Support operations are already underway, and the expanded funding tools approved today will help sustain economies, companies and jobs.”
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