The International Monetary Fund (IMF) will provide up to $50 billion in emergency financing for countries affected by the new Corona virus epidemic. The World Bank has also allocated $12 billion to member countries. These funds will be used to improve the medical system and create a modern crisis response plan.
IMF President Kristalina Georgieva said that under the quick disbursement plan, $10 billion will be allocated for emergency financing of low-income countries. An additional $40 billion will be provided to other member states through an alternative rapid financing mechanism.
Kristalina Georgieva announced the plan Wednesday. She warned that "negative" scenarios for the spread of the epidemic around the world and its impact on the global economy are now increasingly emerging. In this regard, Georgieva predicted that because of the new corona virus epidemic, global economic growth will fall to 2.9%, down from last year. The IMF said it would cut its economic growth forecast this year as the epidemic spreads.
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