The coronavirus pandemic and its economic consequences could push as many as 60 million people into extreme poverty.
The World Bank warns that the progress made over the past three years in the fight against poverty could be wiped out.
He says rapid responses are needed to address the health emergency, but also to provide financial support and other scalable resources to protect the poor, preserve private sector activity and strengthen economic recovery and resilience.
The 15-month commitment is to give poor countries $160 billion in grants or low-interest loans to help them in health, economic and social development.
In any case, the World Bank establishes a direct link between advanced economies and developing countries, which are highly dependent on trade and tourism driven by rich countries.
