World Bank says will boost financing for COVID-19 vaccines to $20 billion

WASHINGTON - The World Bank on Wednesday pledged to boost available funding for COVID-19 vaccine purchases and deployment to $20 billion from a previous target of $12 billion, citing a sharp increase in overall financing demand from developing countries.

World Bank President David Malpass said the global development bank had already provided more than $4 billion to 51 developing countries for the purchase and deployment of COVID-19 vaccines, and would add billions for 25 more countries soon. "Much more will follow in coming weeks," Malpass told reporters, noting that a total of 41 requests had been received from African countries, where less than half the population has been vaccinated.