World Bank Chief Not Considering New Loans For China To Fight Coronavirus

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The World Bank is not considering to provide any new loans to China amid the coronavirus outbreak which has already claimed more than a thousand lives.

Written By Kunal Gaurav | Mumbai | Updated On:
World Bank

The World Bank is not considering to provide any new loans to China amid the coronavirus outbreak which has already claimed more than a thousand lives. World Bank President David Malpass, a former official under Trump administration, reportedly said that China has ample amount of international reserves and no new loans are under consideration.

Last month, the World Bank President had expressed his sympathy for the Chinese government and its people after the outbreak of coronavirus. Calling it a severe public health challenge for China and the rest of the world, Malpass had urged for coordinated action and continued transparency inside China and around the world.

Offered technical assistance

Malpass, in a statement, said that the World Bank Group stands ready to support the Government's efforts in containing the spread of the virus. They were in discussion with relevant authorities on possible ways to support China and had also offered technical assistance on disease surveillance, crisis response, and impact analysis of the outbreak on the Chinese economy.

“Over the medium term, we could work together to further strengthen China's resilience to public health emergencies, draw lessons from this emergency, and share these lessons with the rest of the world,” said Malpass in a statement.

Read: Coronavirus Outbreak: Expert Warns 60% Of World's Population Under Threat

Meanwhile, the World Health Organisation (WHO) and the Foundation for Innovative New Diagnostics (FIND) has signed a memorandum of understanding to formalize a strategic collaboration to strengthen diagnosis in resource-poor countries by closing major diagnostic gaps at the country level. 

“Global health challenges such as the ongoing new #2019nCoV outbreak demonstrates that without these essential elements of health systems, we cannot hope to promote health, keep the world safe, and serve the vulnerable,” tweeted Ghebreyesus.

Read: Hong Kong Villagers Roam Mask Free As Coronavirus Fear Grips The World

WHO is also convening a global research and innovation forum to mobilize international action in response to the new coronavirus. The forum will be held on February 11-12 in Geneva which is being organized in collaboration with the Global Research Collaboration for Infectious Disease Preparedness.

Read: Coronavirus FAQs: WHO Dismisses Myths And Rumours About The Novel Virus

Read: World Bank Calls On Countries To 'strengthen Health Surveillance' Amid Coronavirus Dread

(With inputs from agencies)

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