PROPOSAL FOR A WORLD BANK COVID-19 RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY - March 11, 2020 - endorsement and approval

Jul 19, 2026

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The proposal outlines how the World Bank Group would respond to the COVID-19 outbreak under the Fast Track COVID-19 Facility, including the intended scale and funding structure. It records Executive Directors’ support for urgent action to help client countries contain contagion, reduce loss of life, and limit economic harm. It also seeks endorsement of the IBRD and IDA response, specifying waivers and exceptions for approval, and summarizes the recommended actions for Executive Directors.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages22

Reading Time55 min

AccessFree to download

PROPOSAL FOR A WORLD BANK RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY

I. Introduction

II. World Bank Response

III. Proposed WB COVID-19 Response

IV. Summary of Recommendations

Annex 1. WBG Fast Track COVID-19 Facility

Annex 2. Example of Activities for WB COVID-19 Response Projects

Public Disclosure Authorized Public Disclosure Authorized PROPOSAL FOR A WORLD BANK COVID-19 RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY March 11, 2020 David Malpass President March 12, 2020 PROPOSAL FOR A WORLD BANK RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY 1. On March 3, 2020, Executive Directors discussed how the World Bank Group would respond to the global outbreak of the coronavirus disease (COVID-19) . 1 Executive Directors expressed broad support for the WBG to take urgent action to support the global public good by helping client countries to respond to the outbreak and prevent and reduce contagion and loss of life. They supported the establishment and launch of a US$12 billion World Bank Group Fast Track COVID-19 Facility (FTCF or “Facility”) to assist countries coping with the impact of the global outbreak. Of this amount, US$6 billion would come from IBRD and IDA. IFC has subsequently increased its amount from US$6 billion to US$8 billion, which brings the FTCF total to US$14 billion. IFC is presenting a separate paper that will cover its response to the outbreak. 2. This Memorandum seeks the endorsement of Executive Directors of the proposed IBRD and IDA response under the Facility (“WB COVID-19 Response”), including the approval of specific waivers and exceptions set forth in Section IV of the attached paper. 3. Recommendation. I am satisfied that the recommendations set out in Section IV of the attached paper comply with the Articles of Agreement of IBRD and IDA and recommend that Executive Directors approve them. David Malpass President ------------------------------------ 1 See “Briefing Note for Board of Executive Directors on Launch of World Bank Group Fast Track COVID-19 Facility”(SecM2020-0060 [IDA/SecM2020-0058, IFC/SecM2020-0024, MIGA/SecM2020-0023]), March 3, 2020. Table of Contents PROPOSAL FOR A WORLD BANK RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY ............................................................................................................................................... 2 I. Introduction ..................................................................................................................................... 2 II. World Bank Response ................................................................................................................ 2 III. Proposed WB COVID-19 Response .......................................................................................... 3 IV. Summary of Recommendations ................................................................................................. 9 Annex 1. WBG Fast Track COVID-19 Facility ................................................................................. 11 Annex 2. Example of Activities for WB COVID-19 Response Projects ........................................... 12 LIST OF TABLES Table 1: IDA sources of Finance for WB COVID-19 Response ................................................................. 6 Table 2: Allocation caps and population thresholds with IBRD/IDA distribution ...................................... 7 PROPOSAL FOR A WORLD BANK RESPONSE UNDER THE FAST TRACK COVID-19 FACILITY I. Introduction 1. On March 3, 2020, Executive Directors discussed how the World Bank Group (WBG) would respond to the global outbreak of the coronavirus disease (COVID-19) .2 Executive Directors expressed broad support for the WBG to take urgent action to support the global public good by helping client countries to respond to the outbreak and prevent and reduce contagion and loss of life. They supported the establishment and launch of a World Bank Group Fast Track COVID-19 Facility (FTCF or “Facility”), that would provide up to US$12 billion in immediate support to assist countries coping with the impact of the global outbreak. Of this amount, US$6 billion would come from IBRD and IDA. IFC has subsequently increased its amount from US$6 bi

FAQs

What is the Fast Track COVID-19 Facility (FTCF) and how much funding is proposed?

The proposal supports launching the World Bank Group Fast Track COVID-19 Facility to provide up to US$12 billion in immediate support, with IBRD and IDA contributing US$6 billion and IFC later increasing its amount, bringing the facility total to US$14 billion.

What action is requested from the Executive Directors?

The Memorandum seeks endorsement of the proposed IBRD and IDA response under the Facility, including approval of specific waivers and exceptions set out in Section IV of the attached paper.

What is the objective and structure of the paper?

The objective is to describe the framework for the World Bank response under the Facility. The paper explains the approach in Section II, the proposed response including funding and processing in Section III, and provides a summary of recommendations in Section IV.

Jul 19, 2026

Upload by Miles