IMF says most of proposed $50 bln COVID vaccine project will be grants

International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint news conference at the end of the Summit on the Financing of African Economies in Paris
International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks during a joint news conference at the end of the Summit on the Financing of African Economies in Paris, France May 18, 2021. Ludovic Marin/Pool via REUTERS/Files

GENEVA, June 1 (Reuters) - The head of the International Monetary Fund said on Tuesday it envisaged grant financing for $35 billion of a proposed $50 billion project needed to ramp up global vaccinations against the coronavirus.

Kristalina Georgieva, IMF managing director, was speaking alongside the heads of the World Health Organization, the World Bank Group and the World Trade Organization

Reporting by Stephanie Nebehay, Emma Farge, David Lawler; Editing by Alison Williams

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