The $12 billion "envelop" 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 in a statement late Tuesday.Newsletter sign-up: Get The COVID-19 Brief sent to your inbox"We are extending and expanding our fast-track approach to address the COVID emergency so that developing countries have fair and equal access to vaccines," said the bank's president, David Malpass, said in the statement.
The International Finance Corporation, the private sector lending arm of the World Bank is investing in vaccine manufacturers through a $4 billion Global Health Platform, the statement said.
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