The World Bank is offering technical assistance to China to help battle the coro...
WASHINGTON - The World Bank is offering technical assistance to China to help battle the coronavirus epidemic but no new loans, the development lender’s president, David Malpass, said on Monday.
“My thought is that we all wish them a speedy way to address the coronavirus in China,” he said in an interview on Monday. “We’ve offered technical assistance in the area of health, sanitation and disease policies.” Inside China, more than 300 companies from food delivery services to smartphone makers are seeking more than $8.2 billion in loans to ease the impact of the coronavirus, banking sources told Reuters.
“Clearly, coronavirus is slowing growth in the first half of 2020. What the long-term consequences are we’ll have to see as the response occurs and the adjustments are made,” he said. “China is just coming back from a long Lunar New Year holiday, so we’ll have to evaluate the growth.
The World Bank in December adopted a new five-year China plan that calls for $1 billion to $1.5 billion in annual lending, down from a $1.8 billion annual average over the previous five years..
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