WB president David Malpass said about 60 million people may face extreme poverty line because of COVID-19 pandemic, The Week reported.
WB says about 60 million people may face extreme poverty line because of COVID-19 pandemic
STEPANAKERT, MAY 20, ARTSAKHPRESS: "The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty -- erasing much of the recent progress made in poverty alleviation,” World Bank President David Malpass told reporters during a conference call on Tuesday.
"The World Bank Group has moved quickly and decisively to establish emergency response operations in 100 countries, with mechanisms that allow other donors to rapidly expand the programmes," he said.
The WB offers $ 160 billion in grants and low-interest loans to help poor countries cope with the crisis. Malpass said 100 countries, with 70% of the world's population, have already received emergency funding.