World Bank approves $12B to finance virus vaccines, care

(AP) — The World Bank says it has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments.

The bank said in a statement late Tuesday that the aim is to support the vaccination of up to 1 billion people and to signal to researchers and the pharmaceutical industry that people living in poor countries need access to safe and effective COVID-19 vaccines.

It is part of a wider World Bank Group package of up to $160 billion to help developing countries fight the COVID-19 pandemic.

The bank said its pandemic response programs are reaching 111 countries.