COVID-19 has brought untold suffering to communities worldwide, compounded by what 
World Bank estimates suggest will be the worst recession since World War II. Such a cataclysmic event requires a bold response, both in the immediate term by providing medical care and the safety nets needed to prevent people from falling into poverty but also in the longer term. As we work with countries to build back their economies and strengthen their communities, it cannot be business as usual and sustainability needs to be fully built into the recovery. But – ranging from the warming effects of climate change to pollution caused by coastal run-off and marine litter, overfishing and coral reef and biodiversity loss.
Tag Archives: COVID-19
Productivity growth threatened by COVID-19 disruptions
Productivity growth, a force that has contributed to lifting millions of people out of poverty in developing countries, will need substantial support from policymakers if it is to withstand the severe challenges posed by the COVID-19 pandemic’s economic shock. More in our latest study.
What will it take to achieve COVID-19 containment and economic revival?
As countries grapple with the impact of COVID-19, policy makers are seeking effective,
balanced solutions to address both public health and economic recovery challenges. To understand which approaches have been successful and how these might help other countries and regions, policy makers from Colombia, Ghana, South Africa, Vietnam, and Italy’s Veneto region shared with us their stories of response and recovery.
Fiscal Year-End Update to Governors of the World Bank Group
Dear Governors,
I hope this finds you well, safe, and healthy during these very difficult times. I have enormously appreciated your support over the past year, and our warm and constructive interactions. Face-to- face meetings have become harder over recent months, so at our fiscal year-end, I wanted to provide an update on World Bank Group (WBG) deliveries, as well as other efforts over the past year. I would like to focus in particular on the COVID-19 emergency response, the Debt Service Suspension Initiative for the world’s poorest countries, and progress made on debt transparency since the Development Committee on April 17. I would also like to update you on a few organizational, leadership, and governance matters.
The impact of the coronavirus on foreign investors: Early evidence from a global pulse survey
The coronavirus (COVID-19) pandemic has severely impacted multinational enterprises 
(MNEs) and foreign direct investment (FDI) in developing countries, jeopardizing these firms’ contributions to crucial development outcomes. In addition to bringing capital to developing countries, MNEs are key drivers of global trade, accounting for about 80 percent of total exports. FDI can drive economic transformation by introducing new technologies and best practices in developing countries.
Presentation: World Bank COVID-19 Response & Procurement
The World Bank’s COVID-19 response and its implications on Procurement 
As part of the response to the COVD-19 crisis, the World Bank Group has announced that it expects to deploy up to $160 billion over the next 15 months by boosting health spending, strengthening social safety nets, supporting the private sector, and countering financial disruptions. It was announced that World Bank Group emergency operations to fight COVID-19 have reached over 100 developing countries.
How is the World Bank tackling COVID-19 in fragile and conflict-affected settings?
The COVID-19 (coronavirus) crisis has caused thousands of deaths and shaken the 
world’s richest countries to their core. What happens when it makes its way to low-and middle-income countries, which could face destabilizing and lasting shocks from its health and economic impacts? This is especially true for countries impacted by fragility, conflict and violence (FCV), where cases of COVID-19 infection are increasing. Nearly one-third of our total project investments in 100 countries so far have focused on countries impacted by fragility and conflict —from Afghanistan and Iraq to Somalia and Haiti — to help them face a multi-layered crisis of a magnitude no one has faced before.
COVID-19 in fragile settings: Ensuring a conflict-sensitive response
, as seen in the recent resurgence of polio in Syria, cholera outbreaks in the conflict zones in Yemen, and the persistence of Ebola in insecure eastern regions of the Democratic Republic
of Congo (DRC). Between 2009 and 2017, in fact, there were 364 disease outbreaks in 108 refugee camps. Fragility and conflict reverse hard-won development gains and stunt opportunities for children, youth, and the poorest people. In the process, they deeply weaken health systems, leaving societies more vulnerable to disease outbreaks.
Global economy expected to shrink by 5.2% in 2020 due to COVID-19
The swift and massive shock of the coronavirus pandemic and shutdown measures to 
contain it have plunged the global economy into a severe contraction. According to World Bank forecasts, the global economy will shrink by 5.2% this year.
COVID 19: Building a stronger recovery
Developing countries and the international community can take steps now to hasten recovery after the worst of the health crisis has passed, according to analytical chapters released from our latest Global Economic Prospects report. Securing core public services, getting money directly to people, and maintaining the private sector will limit the harm and help prepare for recovery.
Netherlands for the World Bank 
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