The World Bank Group's private-sector arm said on Wednesday it is launching a $4 billion financing platform aimed at boosting the production and supply of critical health care products in developing countries to help fight the coronavirus pandemic.
WASHINGTON - The World Bank Group’s private-sector arm said on Wednesday it is launching a $4 billion financing platform aimed at boosting the production and supply of critical health care products in developing countries to help fight the coronavirus pandemic.
IFC is contributing $2 billion in internal resources with plans for another $2 billion to come from private-sector partners. The World Health Organization estimates that worldwide demand for critical healthcare products, including masks and ventilators, now exceeds supply by more than $60 billion annually.
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