Observer Report
Islamabad
IFC’s pandemic response is focused on reaching the most vulnerable people in developing countries. Of the $8 billion in IFC Covid-19 fast-track financing approved by the IFC Board in March 2020, $4 billion has been committed to date, of which close to half is expected to benefit people in the poorest countries and fragile states, with the remainder helping to support the fight against Covid-19 across other developing countries and emerging markets.
“Supporting the private sector will be crucial to helping developing countries achieve an inclusive, sustainable and resilient recovery and stem the current rise in extreme poverty,” said World Bank Group President David Malpass. “Our goal with IFC’s fast-track Covid-19 facility is to provide needed liquidity for corporate and financial institution clients, which will provide working capital, support jobs and facilitate trade.”
