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World Bank, IFC providing $14 billion for COVID-19 response

The World Bank and International Finance Corporation (IFC) Boards of Directors have approved an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. 
 
The package will strengthen national systems for public health preparedness, including for disease containment, diagnosis, and treatment, and support the private sector.
 
IFC, a member of the World Bank Group, will increase its COVID-19 related financing availability to $8 billion as part of the $14 billion package.
 
The bulk of the IFC financing will go to client financial institutions to enable them to continue to offer trade financing, working-capital support and medium-term financing to private companies struggling with disruptions in supply chains. 


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