The International Monetary Fund (IMF) and the World Bank Group stand ready to help the member countries with emergency funding to address the human tragedy and economic challenge posed by the COVID-19 virus, Kristalina Georgieva, managing director of IMF, and David Malpass, president of World Bank Group  said in a joint statement issued yesterday.

“We are engaged actively with international institutions and country authorities, with special attention to poor countries where health systems are the weakest and

people are the most vulnerable,” said the statement.

IMF and World Bank will use their available instruments to the fullest extent possible, including emergency financing, policy advice, and technical assistance.

In particular, both organisations have rapid financing facilities that, collectively, can help countries respond to a wide range of needs

Meanwhile, The US government set to finance US $37 million to CONVID-19 affected 25 countries including Bangladesh as a commitment which earlier announced.

The announcement came yesterday as US government will channeling the fund through multilateral institution including World Health Organization (WHO) and US Agency for International Development or USAID’s multifarious Programs.