Last year, the World Bank Group was busily working on two ambitious goals for its 189 member nations: ending extreme poverty within a generation and boosting shared prosperity. This year, it has announced it will provide up to $160 billion in financing for COVID-19 over a period of 15 months to help developing countries respond to the health, social, and economic impacts of the pandemic.
“We are projecting negative growth for over 150 countries in 2020,” he tells Mike. “And nearly 80% of the world's informal economy workers, 1.6 billion people, due to the lockdown, have lost their jobs, of which 714 million are women. So this is really an unprecedented crisis.”