Since March 2020, the World Bank Group has mounted the fastest and largest crisis response in its history to help developing countries respond and recover from the COVID-19 crisis. For the first 27 months of the COVID-19 crisis—April 1, 2020 to June 30, 2022—the Bank Group delivered an unprecedented $272 billion in new commitments, of which $79 billion was from IBRD, $91 billion form IDA, $75 billion from IFC, $13 billion from MIGA, and $14 billion from trust funds.
Trust funds and FIFs have made important contributions to the Bank Group’s pandemic response. Many development partners have made new contributions to trust funds and FIFs to support the COVID-19 response. Looking back over the last two years, this chapter showcases how trust-funded activities have been “first responders” to this crisis, as they often are in the case of many emergencies. Trust fund resources can be programmed or reprogrammed and deployed quickly throughout the year, enabling the Bank Group to assess the situation on the ground and provide immediate support while longer-term assistance is put in place. In the case of the COVID-19 response, trust funds have fast-tracked funding to meet emergency needs, boosted support for the most vulnerable, and helped lay the groundwork for countries to rebuild with more sustainability, resilience, and inclusion.