World Bank approves USD 1-billion emergency funds for India to tackle coronavirus outbreak

The World Bank has approved its first funds to help some of the globe’s poorer countries combat the coronavirus outbreak. It approved a total aid of USD 1.9 billion for 25 countries on Thursday. The largest amount of assistance was USD 1 billion for India followed by USD 200 million for Pakistan, USD 129 million for Sri Lanka, USD 100 million for Afghanistan and USD 83 million for Ethiopia. World Bank President David Malpass predicted the bank could provide up to USD 160 billion in assistance over the next 15 months. World Bank officials said the emergency resources would include money to purchase critical medical supplies such as masks and ventilators, with the World Bank lending its procurement expertise to help obtain these supplies on global markets. The approval of the first round of support for 25 countries will be followed quickly with aid to another 40 countries, officials said.

SOURCE: The Hindu

UNGA adopts resolution on COVID-19, calls for global cooperation to fight pandemic

The UN General Assembly has unanimously adopted its first resolution on the coronavirus pandemic co-sponsored by India and 187 other nations, calling for intensified global cooperation to defeat the deadly disease that is causing “severe disruption” to societies and economies. The resolution titled ‘Global solidarity to fight the coronavirus disease 2019 (Covid-19)’ was the first such document on the pandemic to be adopted by the world body. The UN Security Council is yet to discuss the coronavirus outbreak, even as the total number of coronavirus cases across the world crossed one million. The resolution, adopted Thursday, said the 193-member General Assembly notes “with great concern” the threat to human health, safety and well-being caused by the pandemic. It recognises the “unprecedented effects of the pandemic, including the severe disruption to societies and economies, as well as to global travel and commerce, and the devastating impact on the livelihood of people.”

SOURCE: India Today

WHO says coronavirus is spread by respiratory droplets, not through air

The virus that causes the Covid-19 disease is primarily transmitted through “respiratory droplets and close contacts”, and does not seem to stay long in the air, a recent WHO publication said. Respiratory infections can be transmitted through droplets of different sizes, the World Health Organisation (WHO) said.Droplet transmission occurs when you have close contact (within one metre) with a person who has respiratory symptoms such as coughing or sneezing, which may spread these potentially infectious droplets, typically 5-10 microns in size, to your body. Transmission may also occur by touching surfaces or objects in the immediate environment around the infected person, state-run China Daily quoted the WHO publication as saying. Airborne transmission is different from droplet transmission, as it refers to the presence of microbes within droplet nuclei, which are generally considered to be the smaller particles of less than 5 microns in diameter, and which can remain in the air for long periods of time and be transmitted to others over distances greater than one metre, it said.

SOURCE: The Indian Express

RBI shortens forex, money market trading hours amidst lockdown

The Reserve Bank of India (RBI) said on Friday that bond and currency markets will operate between 10 am to 2 pm, instead of the usual 9 am to 5 pm, effective April 7 to 17, in view of the Coronavirus-related dislocations. The normal timings of the markets are between 9 am and 5 pm, depending on the type of instrument being traded. For example, repo in government securities was available between 9 am and 2.30 pm, whereas repo in the corporate bonds segment used to close at 6 pm. Now everything will close by 2 pm. In a notification on its website, the RBI said the Covid-19 outbreak has created an unprecedented situation and necessitated lockdowns, social distancing, restrictions on movement of people and non-essential activities, work from home arrangements and business continuity plans.

SOURCE: Business Standard

IOC sets June 29, 2021 as new deadline for qualification period of Tokyo Olympics

The International Olympic Committee (IOC) said on Friday that the new deadline for the qualification period for the postponed Tokyo Olympics has been set to June 29, 2021. It further stated that International Federations (IF) of each sport retain full discretion for defining their own respective deadlines and pathways. The Olympics was originally scheduled to be held from July 24 to August 9 this year. However the fallout from the global outbreak of the coronavirus pandemic led to the IOC eventually announcing that the Tokyo Games will now be held from July 23 to August 8, 2021. “The new qualification period deadline is June 29, 2021 and IFs can define their own qualification period deadlines should the deadline be prior to this date,” said the IOC in a letter addressed to the National Olympic Committees (NOC).

SOURCE: The Indian Express           

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