THE WORLD BANK GROUPRESPONDING TO THE
COVID-19 PANDEMIC
AND REBUILDING BETTERAN UNPRECEDENTED GLOBAL EFFORTThe COVID-19 pandemic is a crisis unlike any we have seen in our lifetimes.
It pushed 100 million people into extreme poverty in 2020. It has widened
inequality, posing a risk that recovery could leave poor countries behind.
And it comes on top of long-term challenges that make many countries
fragile: unsustainable debt, climate change, conflict, and weak governance.
The World Bank Group has mounted the largest crisis response in its
history to help over 100 low- and middle-income countries fight the health,economic, and social impacts of COVID-19.
Our efforts focus in four critical areas: saving lives, protecting the poor andvulnerable, supporting business growth and job creation, and rebuilding
in better ways. We are committed to helping our clients emerge from theglobal crisis and move toward green, resilient, and inclusive recovery.
During the 15-month period from April 2020 through June 2021, the World Bank Group
deployed over$157 billion* to help governments and the private sector in developing countries.

World Bank financing to governments includes:$53.3 billion from IDA, our fund for the poorest countries• Commitments of $45.6 billion from IBRD, to middle- and low-income countries•

Commitments of

IFC and MIGA private sector financing includes:•$42.7 billion from IFC, to private companies andfinancial institutions•$7.6 billion in gross issuance of MIGA guarantees* This total and figures that follow include short-term finance,
mobilization, and recipient-executed trust funds.

Our global support
World Bank Group commitments
for the 12-month period in fiscal
year 2021 totaled$98.8 billion

Includes IBRD, IDA, IFC and Recipient-Executed TrustFund commitments and MIGA gross issuance. IFC
commitments include long-term commitments for IFC’s
own account and short-term finance commitments.

EUROPE AND
CENTRAL ASIA
MIDDLE EAST AND
NORTH AFRICA

$6.2

$10.9
billion$13.5

billionbillion

SOUTH ASIA
LATIN AMERICA
AND THE CARIBBEAN$17.5
billion

SUB-SAHARAN
AFRICA$35.2
billionEAST ASIA
AND PACIFIC$15.6billion

Saving lives
The World Bank has financed projects to help more than 100 countries meet their healthemergency needs. The focus includes testing, case tracking, and treatment; purchaseof medical and laboratory supplies; and training of medical staff.
•We are also redeploying funds from existing projects to support countries’ response.
In East Asia and the Pacific and in Latin America and the Caribbean, we have activatedCatastrophe Deferred Drawdown Options that are designed to address disasters.

•Our efforts include collaboration with a broad range of global partners, including theCoalition for Epidemic Preparedness Innovations, Gavi, the Global Fund, the IMF, UNICEF,
the WHO, and the WTO.

Vaccines. The Bank is supporting developing countries’ access to vaccines, boththrough COVAX and directly from manufacturers. A $20 billion financing envelope over
two years is helping countries purchase vaccines and set up systems for deployment. As ofAugust 2021, we have committed $4.6 billion for 54 countries.
•Working with partners, we have also helped 140 developing countries assess theirreadiness for safe distribution. We are also partnering with the African Union to helpcountries across Africa purchase and deploy vaccines for more than 400 million people.

•IFC is making $4 billion available to increase the capacity of developing countries tomanufacture vaccines and access vital medical equipment. With bilateral partners, IFC
is investing €600 million to enable South Africa’s Aspen Pharmacare to produce thesingle-dose Johnson & Johnson vaccine.

Health systems. World Bank investments and related policy support are helping
countries strengthen health systems for the long term, including by building
resilience to address future pandemics and to prevent disruptions to otheressential health services.
•	Learning from Ebola outbreaks, we have expanded IDA financing
for disease surveillance in West and Central Africa. To enhance
preparedness, the Bank is also supporting regional centers ofexcellence, such as the Africa Centers for Disease Control, the East
Africa Public Health Laboratory Networking Project, and the West
African Health Organization.

SAVING LIVES

Protecting the poor and vulnerable
The impacts of COVID-19 have pushed an estimated 100 million more people into extreme
poverty, reversing hard-won gains in development. Twice as many people now face foodinsecurity, particularly in countries that were already fragile or affected by conflict. Up to 1.6
billion students have been out of school. Women have been more likely to lose their jobs, while
also facing more demand for caregiving and a higher risk of gender-based violence.

Social protection. Safety nets are critical when people lose incomes
and livelihoods: yet before the pandemic, just 1 in 5 people in the poorest countries
had access to this support. World Bank financing is helping countries scale up
social protection to address the crisis and build resilience for the long term.
•In Ghana, the World Bank is supporting cash transfers for one-time
payment to 350,000 households. In Pakistan, $25 million will provide
emergency transfers for up to 4 million people under the national safety net.

•In Somalia, a $65 million IDA grant is helping the national cash transfer
program provide assistance that lets families supplement their income andprioritize their children’s health and education.

Education. We are helping countries return students to school, recover fromlearning losses, and rebuild systems to be more effective, resilient, and equitable.
•In India, a $500 million project is investing in remote learning, reducing dropout
rates, providing remedial instruction, and offering psychosocial support forteachers, students, and families. The effort will reach around 250 million
school-age children and over 10 million teachers.

Food security. IDA’s dedicated funding for crises is supporting early
responses on food insecurity, both by scaling up emergency safety nets andproviding support for livelihoods.
•In Yemen, support is being designed in collaboration with the Food and Agriculture
Organization to reach 150,000 households in the most vulnerable areas.

•In Haiti, we mobilized emergency funding to help small farms purchaseseeds, fertilizer, and other inputs to safeguard production for the next
two growing seasons.

PROTECTING THE POORSupporting business growth and job creation
The pandemic’s impact on private enterprises has been severe. Across emerging markets,
World Bank Group data shows nearly four in 10 smaller firms are in financial arrears or expect
to be soon. Boosting the private sector is essential to contain the economic crisis and support
recovery; in many countries, sustaining inclusive growth and job creation will be tied to reforms
and economic transformation.

Support to businesses. In low- and middle-income countries, companies
are facing acute financial difficulties amid the pandemic; many of them need help to stay inbusiness and preserve jobs.
•IFC’s $8.4 billion Fast-Track COVID-19 Facility launched in March 2020 to provide liquidity
to existing clients. By June 2021, $5.8 billion was committed, nearly half of it for thepoorest countries and fragile and conflict-affected states.

•Much of IFC’s funding is going to micro, small, and medium enterprises, a big source ofemployment in developing countries, as well as to women entrepreneurs.

•MIGA’s $6.5 billion COVID-19 Response Program has helped investors and lenders
mitigate the impact of the crisis in emerging markets and developing economies.

•The World Bank is also assisting viable firms, strengthening insolvency regimes, andbuilding financial sector resilience in Indonesia, Mexico, Paraguay, and Uruguay.

The digital economy. The pandemic makes clearer than ever that connectivity
infrastructure is critical for economic and social development. But in countries where few
have internet access, achieving universal, affordable, and high-quality connectivity requires
massive investment.
•The Bank’s Digital Economy for Africa initiative supports the African Union’s Digital
Transformation Strategy; it aims to connect every individual, business, and government inAfrica by 2030.

•In the Kyrgyz Republic, we are helping link farms with markets using
digital technology to track deliveries and product quality. This helps
farmers strengthen livelihoods and raise incomes, while building
resilience in value chains.

•In Jordan, a $163 million project is connecting poor andvulnerable youth—both Jordanians and Syrian refugees—todigital opportunities by improving skills, creating jobs, andhelping high-growth companies access finance.

SUPPORTING GROWTH

Rebuilding better
As they look toward recovery, developing countries will continue to need macroeconomic support, but also reforms that bolster growth prospects. The World Bank’s
knowledge products offer insights that can help lay the foundation for long-term recovery,
through approaches that help countries build more resilient infrastructure, prepare fornatural disasters, and adapt to a rapidly changing climate.

Sustainable infrastructure. Recovery from COVID-19 presents anopportunity for countries to build back better, meet their climate goals, and stimulate
flagging economies with climate-smart infrastructure development. The Bank Group is
helping governments take stock of projects, access funding, and tap private sector
financing and expertise.
•In 11 African countries from Djibouti to Senegal, we will invest more than
$5 billion over five years to help restore degraded landscapes, improve
agricultural productivity, and develop climate-resilient infrastructure.

Comprehensive support. By strengthening policies
and institutions based on transparent and sustainable debt andinvestments, we believe countries can return to growth while also
making sure that it is green, resilient, and inclusive.
•In Jamaica, a $150 million development policy loan is helping thegovernment provide emergency financial assistance to vulnerable
people, supporting businesses as they cope with the economic shock,and strengthening financial institutions for sustainable recovery
and climate resilience.

REBUILDING BETTERThe World Bank Group is mounting an unprecedented
response to the pandemic, drawing on our country depth andglobal breadth, a range of flexible financing mechanisms,deep multisector knowledge and expertise, and wide-reaching
convening power.
We seek to help countries navigate their way out of thecrisis toward a green, resilient, and inclusive recovery.
There is no path to sustainable, long-term growth without
continuous progress in reducing poverty and inequality.
For more information, please visit:www.worldbank.org/coronavirus
www.worldbank.org/vaccineswww.worldbank.org/changinglives

Photo Credits: Front cover (clockwise, from top): Dominic Chavez/World Bank, Steve Harris/World Bank, Henitsoa
Rafalia/World Bank, Shutterstock.com; Page 2: Shutterstock.com; Page 4: (top to bottom) Shutterstock.com, Dominic
Chavez/World Bank; Page 5 (top to bottom): Dominic Chavez/World Bank, Shutterstock.com, Arne Hoel/World Bank; Page
6: Shutterstock.com; Page 7 (top to bottom): Dominic Chavez/World Bank; Dominic Chavez/World Bank.