World Bank Boosts Covid-19 Vaccine Funding From $8 Billion To $20 Billion

The $20 billion is available through 2022 to finance vaccine distribution as well as cold chains and training health workers, World bank said in a statement.

The World Bank announced Wednesday it has increased its Covid-19 vaccine fund for developing countries by $8 billion to $20 billion. In addition, the bank's private financing arm secured a 600 million euro package for a South African vaccine manufacturer to ramp up production, the institution announced. "Together the actions announced today on vaccine production, deployment and financing will save lives, boost economic recovery and help ensure the people in the developing countries have a chance to prosper," World Bank Group President David Malpass told reporters. The $20 billion is available through 2022 to finance vaccine distribution as well as cold chains and training health workers, the bank said in a statement.