World Bank Approves $12 Billion to Finance Coronavirus Vaccines, Care
2020-10-16
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1The World Bank has approved $12 billion in financing to help poor countries buy and give out coronavirus vaccines, tests and treatments.
2The aim is to support the vaccination of up to 1 billion people in the developing world.
3The $12 billion in financing is part of a larger World Bank Group effort.
4It plans to spend up to $160 billion to help developing countries fight the COVID-19 pandemic, the bank said in a statement on Tuesday.
5The World Bank said its COVID-19 emergency programs are already reaching 111 countries.
6People in developing countries need safe and effective COVID-19 vaccines, it said.
7The World Bank is "fast-tracking" its delivery systems so that poorer nations "have fair and equal access to vaccines," said the bank's president, David Malpass.
8He added that fair and equal access was important to defeat the pandemic and to "help countries experiencing catastrophic economic and fiscal impacts."
9The International Finance Corporation is the agency of the World Bank that provides loans to private businesses.
10It is giving money to vaccine manufacturers through a $4 billion Global Health Platform, the bank said.
11Researchers are working on creating more than 170 possible COVID-19 vaccines.
12The disease has killed more than 1 million people and sickened more than 38 million.
13It has also weakened many economies and left many people out of work.
14The world's richest countries have already bought up most of the world's possible COVID-19 vaccine supply through 2021.
15This has made health experts concerned that poorer countries will not be able to get the vaccine.
16The World Bank said it will use expertise and experience from its involvement in many large immunization programs worldwide and other public health efforts.
17The financing also is meant to help countries get medical tests and treatments and to support direction of logistics for vaccinations in the developing world.
18I'm Susan Shand.
1The World Bank has approved $12 billion in financing to help poor countries buy and give out coronavirus vaccines, tests and treatments. The aim is to support the vaccination of up to 1 billion people in the developing world. 2The $12 billion in financing is part of a larger World Bank Group effort. It plans to spend up to $160 billion to help developing countries fight the COVID-19 pandemic, the bank said in a statement on Tuesday. 3The World Bank said its COVID-19 emergency programs are already reaching 111 countries. 4People in developing countries need safe and effective COVID-19 vaccines, it said. 5The World Bank is "fast-tracking" its delivery systems so that poorer nations "have fair and equal access to vaccines," said the bank's president, David Malpass. He added that fair and equal access was important to defeat the pandemic and to "help countries experiencing catastrophic economic and fiscal impacts." 6The International Finance Corporation is the agency of the World Bank that provides loans to private businesses. It is giving money to vaccine manufacturers through a $4 billion Global Health Platform, the bank said. Researchers are working on creating more than 170 possible COVID-19 vaccines. 7The disease has killed more than 1 million people and sickened more than 38 million. It has also weakened many economies and left many people out of work. 8The world's richest countries have already bought up most of the world's possible COVID-19 vaccine supply through 2021. This has made health experts concerned that poorer countries will not be able to get the vaccine. 9The World Bank said it will use expertise and experience from its involvement in many large immunization programs worldwide and other public health efforts. The financing also is meant to help countries get medical tests and treatments and to support direction of logistics for vaccinations in the developing world. 10I'm Susan Shand. 11The Associated Press reported this story. Susan Shand adapted it for Learning English. George Grow was the editor. 12________________________________________________________________ 13Words in This Story 14pandemic - n. a contagious disease that spreads to other countries 15delivery - n. to bring something to someone 16access - v. to get to or be able to get 17catastrophic - adj. very bad, disastrous 18fiscal - adj. financial 19immunization - n. efforts to give people medication so they cannot catch or spread a contagious disease 20logistics - n. the specific details of a project or undertaking