March 26, 2020 / 2:58 PM / 13 days ago

Malpass says World Bank finalizing $160 bln coronavirus relief package

WASHINGTON, March 26 (Reuters) - The World Bank’s board is finalizing a package of coronavirus relief valued at up to $160 billion over the next 15 months, the development lender’s president, David Malpass said on Thursday.

“The goals are to shorten the time to recovery; create conditions for growth; support small and medium enterprises; and help protect the poor and vulnerable,” Malpass said in a statement issued after a G20 leaders call on Thursday.

He added that the health crisis hit close to home, as former World Bank U.S. executive director Carole Brookins has died of COVID-19, the disease caused by the coronavirus. (Reporting by David Lawder and Andrea Shalal Editing by Chizu Nomiyama)

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