ISLAMABAD: Pakistan is expected to receive more than one billion rupees from international organisations, the International Monetary Fund and the World Bank, under an international healthcare assistance programme in August this year.
The money will be used to buy vaccines and equipment to combat and mitigate the impacts of COVID-19, sources in the Ministry of Finance said.
A joint meeting of the IMF and World Bank task force was held last week on the issue. The meeting reviewed the damage to the global economy caused by the COVID-19 pandemic. Numerous countries are facing the third wave of the virus with new mutations of the virus.
The two global financial institutions said that urgent steps are needed for global economic recovery. The meeting decided to speed up the supply of vaccines to developing countries.
It was also decided to take steps to speed up the supply of one billion vaccines with grants for the purchase of vaccines to developing countries and concessional loans.
The IMF had earlier provided 1.38 billion to Pakistan; other international financial institutions have already provided financial assistance to Islamabad currently battling coronavirus and poor economy.
