06/10/2021 | Press release | Distributed by Public on 06/10/2021 22:36
The COVID-19 (coronavirus) pandemic has taken a drastic human toll, and the economic and social impacts of the pandemic are reverberating globally. to help developing countries strengthen their pandemic response and health care systems.
With the pandemic's rapid spread into developing countries, protect the poor and vulnerable, support businesses, and bolster economic recovery.
In the East Asia and Pacific (EAP) region, where the pandemic first hit, emergency operations have already been approved under the COVID-19 fast-track facility for Cambodia, Fiji, Indonesia, Kiribati, Lao PDR, Marshall Islands, Mongolia, Myanmar, Papua New Guinea, Philippines, Samoa, Solomon Islands, Timor-Leste, and Vietnam.
These operations provide emergency financing for the purchase of medical and laboratory supplies, training of medical staff, and strengthening national public health systems. Each country-level operation is tailored to the specific context and epidemic status of the country.
The World Bank is also working with countries to redeploy existing projects to fight the COVID-19 pandemic by reallocating funds, triggering emergency components of existing projects, and activating Catastrophe Deferred Drawdown Options (CAT DDOs). So far this has been done in Cambodia, the Federated States of Micronesia, Mongolia, the Philippines, Tonga, Tuvalu, Samoa, and Vanuatu.
In a second phase of the COVID-19 response, to help countries address the anticipated severe economic, social and poverty impacts, the Bank is working with countries to strengthen social protection measures for the poor and vulnerable, support businesses and safeguard jobs, and advance the reforms needed to shorten the time to recovery and build conditions for broad-based and sustainable growth.
To provide relief for vulnerable populations, low- and middle-income countries need fair, broad, and fast access to effective and safe vaccines. That is why the World Bank is providing $12 billion to low- and middle-income countries purchase and distribute vaccines, tests, and treatments.
Learn more about the World Bank's support for countries across the East Asia and Pacific region:
Countries benefiting from the dedicated COVID-19 Fast-Track Facility
As of June 10, 2021
Countries benefiting from other forms of finance/redeploying of existing projects
As of February 19, 2021
As of June 10, 2021