IMF says most of proposed $50 billion Covid vaccine project will be grants

Representative image. Credit: iStock Photo

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.

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