World Bank Approves $500 Million in Additional Financing for Turkey’s COVID-19 Pandemic Response

Shafaq News/ The World Bank’s Board approved today $500 million in additional financing for the Turkey Emergency COVID-19 Health Operation to support Turkey’s response to the health impacts of the COVID-19 pandemic.

This financing complements the original loan of $100 million, which the World Bank Board approved in April 2020 as part of the Bank’s COVID-19 Strategic Preparedness and Response Program. The additional financing scales up the original loan to ensure access to safe and effective COVID-19 vaccines in Turkey and forms part of an expanded health response to the pandemic. In addition, an additional $250 million will be provided as co-financing from the Asian Infrastructure and Investment Bank (AIIB).

The World Bank said the project would help meet the cost of current and future vaccine purchases.

The project will be implemented by the Ministry of Health and consists of a subcomponent under the parent project, which will support the financing and acquisition.

Source: The World Bank