World Bank adds $2bn to coronavirus response fund

The World Bank Group has increased its available funds to $14 billion to support countries and private companies and their employees hurt by economic impacts of the global coronavirus pandemic, adding $2 billion to an initial package announced earlier this month.

The DFI said the bulk of the funding would be used by client financial institutions so they can continue to offer trade financing, working capital and medium-term financing to private firms struggling with disruptions in supply chains.