WASHINGTON: The World Bank has added USD 8 billion more for Covid-19 vaccines, totalling USD 20 billion, for developing countries. David Malpass, World Bank Group President David Malpass said in a statement which reads:  "In view of the surging demand for World Bank vaccine finance, I am pleased to announce today that the World Bank is expanding its financing available for Covid-19 vaccine financing to $20 billion over the next 18 months, adding USD 8 billion to the previously announced USD12 billion."  Earlier it had announced USD 12 billion. The funding will be available through 2022, it said.

Malpass also called on countries with surplus doses to release it for use by developing countries, and for vaccine manufacturers to prioritise the available doses for the developing countries that so urgently need them.

On Wednesday, the bank's private financing arm the International Finance Corporation secured a 600 million euro package for a South African vaccine manufacturer to ramp up production of Covid-19 treatment therapies and vaccines in the African continent. Further, the Bank also provided over $4 billion for the purchase and deployment of Covid vaccines for 51 developing countries, half of which are in Africa.

Since the start of the Covid pandemic, the World Bank Group has approved more than USD 150 billion to fight the health, economic, and social impacts of the pandemic.

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