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Relief for Nigeria, others as World Bank approves $12 billion for COVID-19 vaccines, treatments

The clamour for equitable distribution of treatment of COVID-19 appears to have gained substantial backing with the World Bank executive board approval of $12 billion on Tuesday in new funding for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their citizens.

Nigeria among other developing nations of the world would find relief in the support amid efforts to revitalise their economies.

The financing plan, according to Reuters, is part of $160 billion in total resources that the multilateral development lender has pledged to provide to developing countries through June 2021 to help fight the coronavirus pandemic.

The World Bank said the financing program will include technical support to recipient countries to prepare for deploying vaccines at scale, and will signal to drug companies that there will be strong demand and ample financing for COVID-19 vaccines in developing countries.

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