The World Bank (WB) and International Finance Corporation (IFC) approved an increased US$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 amount higher than previous announcement in March 4.

It said, IFC will increase its COVID-19 related financing availability to US$8 billion as part of the package, up from an earlier US$6 billion, to support private companies and their employees hurt by the economic downturn caused by the spread of the virus.