Left Menu
Development News Edition

IDB increases money available for Latin America to fight coronavirus to $12 bln


IDB increases money available for Latin America to fight coronavirus to $12 bln

The Inter-American Development Bank (IDB) said on Thursday it has increased resources available to countries in Latin America and the Caribbean to fight the coronavirus pandemic to $12 billion, up from the $2 billion it had promised a few weeks ago. The sum will be available to governments and businesses to help meet challenges faced by countries in the region during the accelerating public health crisis.

Resources will be focused on protective measures to help vulnerable populations, support employment and production, and in fiscal policies to alleviate the impact of the pandemic on economies in Latin America. "We are immediately reprogramming resources to help with this health emergency," said IDB President Luis Alberto Moreno. "However, the historic dimensions of the crisis require a multisectoral strategy that anticipates the social and economic impact over the medium and long term."

Additionally, governments can request that resources earmarked for projects already in development be redirected to meet the needs caused by the outbreak of COVID-19, the highly contagious illness caused by the virus that has infected more than 490,000 people and killed more than 22,000 worldwide. Of the total sum IDB Invest, the organization's department that serves the private sector, will make $4.5 billion available to companies hit by the crisis.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...

Ebola to COVID 19: Has Geopolitics prevailed over Professionalism in WHO

World Health Organization WHO is perceived as one of the most professional bodies of the United Nations. However, the role of WHO has come under question in handling outbreak two deadly diseases Ebola Viral Disease EVD and novel Coronaviru...

Trade War, COVID 19 and Beyond: How Pandemic is defining a New World Order

While we are confined in our homes, the world is changing faster than ever. Geopolitics in the time pandemic is defining a new world order. The transformation is happening in almost all the walks of life but the million-dollar question is ...

Videos

Latest News

Home quarantined man runs nude in TN, fatally bites elderly

A young man under home quarantine for coronavirus after return from Sri Lanka suddenly ran out of his house nude and fatally bit a 80-year old woman in his neighbourhood in a village near here, police said on Saturday. The woman with injuri...

Ensure minimum support services to differently-abled during lockdown, DEPwD urges MHA

Highlighting the hardships faced by the differently-abled during the lockdown, the department of empowerment of persons with disabilities DEPwD on Saturday urged the Ministry of Home Affairs to direct all states and union territories to ens...

Health News Roundup: China reports 54 new coronavirus cases on Friday; Jakarta extends state of emergency

Following is a summary of current health news briefs.Factbox Latest on the spread of the coronavirus around the worldThe U.S. House of Representatives approved a 2.2 trillion aid to help cope with the economic downturn inflicted by the inte...

NCPCR urges migrant workers to stay put wherever they are

In the wake of the coronavirus outbreak, apex child rights body NCPCR on Saturday urged migrant labourers to stay put wherever they are and make decision in the best interest of their children. The National Commission for Protection of Chil...

Give Feedback