<p>The UN humanitarian chief said Monday that USD 90 billion could provide income support, food and a health response to the coronavirus pandemic for 700 million of the world's most vulnerable people — a price tag just 1 per cent of the USD 8 trillion stimulus package the 20 richest countries put in place to safeguard the global economy.</p>.<p>Mark Lowcock told a video briefing most experts agree that the peak of the COVID-19 pandemic hasn't reached the poorest parts of the world, but may peak in the next three to six months.</p>.<p>He said about 700 million people — 10 per cent of the world's population — are most vulnerable and concentrated in about 30 to 40 countries which already receive humanitarian assistance and will see a big drop in incomes as the virus spreads and governments impose restrictive measures and lockdowns.</p>.<p><strong><a href="https://www.deccanherald.com/national/coronavirus-live-updates-india-sees-lowest-daily-growth-rate-tally-crosses-26k-concerns-mount-over-maharashtra-827545.html" target="_blank">For latest updates and live news on coronavirus, click here</a></strong></p>.<p>“If you wanted to protect them against that drop in income, then probably for about USD 60 billion you could do that,” Lowcock said.</p>.<p>And for something like USD 30 billion, he said, people facing the threat of starvation can get food, and the health response to COVID-19 can be financed.</p>.<p>Lowcock said probably two-thirds of the USD 90 billion could come from international financial institutions like the World Bank and the International Monetary Fund.</p>.<p>“They would need to change the terms on which they provide assistance to some people,” he said.</p>.<p>“So, for example, they would need to reduce interest rates and provide some debt relief. But they have the firepower if they were given a bit more subsidy to probably meet about two-thirds of the costs.”</p>.<p>Lowcock said the remaining one-third could be financed by a one-time increase in government development assistance.</p>.<p>He said the argument he's making is that a one-off 20 per cent increase “will save you having to deal with a 10-year problem.” “USD 90 billion is a lot of money but it is an affordable sum of money,” he said.</p>.<p>The UN is not going to appeal for USD 90 billion, Lowcock said, but “what I am suggesting is a lot of the suffering and loss of life can be contained within sums of money which are imaginable.”</p>.<p>UN Secretary-General Antonio Guterres did launch a USD 2 billion appeal on March 25 to help vulnerable and conflict-torn countries in the Middle East, Asia, Africa and South America tackle the coronavirus pandemic.</p>.<p>Lowcock said he is encouraged the appeal has received a little over USD 1 billion in one month, including 300 million euros from Germany announced Monday evening.</p>.<p>On May 7, he said, a revised appeal will be launched seeking additional resources because the pandemic is growing and new countries need help.</p>.<p>Lowcock stressed that many things about COVID-19 aren't known including how it spreads in countries that are warmer and more humid, how it interacts with other illnesses like malaria and HIV/AIDS, how it acts in situations where there is a lot of malnutrition and hunger, its impact in low income countries where people on average are younger, and whether people who recover have some protection against a future infection.</p>.<p>Lowcock, who is the UN undersecretary-general for humanitarian affairs, expressed hope that scientists will find the answers to these and other questions in the coming months.</p>.<p>In the poorest parts of the world, he said, “the growth in case numbers is not yet as exponential as we've seen in, for example, in North America and Europe.”</p>.<p>He said the curve is accelerating in African and cited some recent modeling by the London School of Hygiene and Tropical Medicine “suggesting that many African countries will have a thousand new cases a week by May 1, and a few weeks after that could be getting 10,000 cases a week.”</p>.<p>Restrictive measures imposed by governments to tackle the pandemic are likely to have a bigger impact in poorer countries than wealthier ones because of the number of day laborers and hungry people who can't survive on their own resources, he said.</p>.<p>“But the biggest impacts, we expect ... will arise from the economic consequences of the pandemic,” he said. (AP) CPS</p>
<p>The UN humanitarian chief said Monday that USD 90 billion could provide income support, food and a health response to the coronavirus pandemic for 700 million of the world's most vulnerable people — a price tag just 1 per cent of the USD 8 trillion stimulus package the 20 richest countries put in place to safeguard the global economy.</p>.<p>Mark Lowcock told a video briefing most experts agree that the peak of the COVID-19 pandemic hasn't reached the poorest parts of the world, but may peak in the next three to six months.</p>.<p>He said about 700 million people — 10 per cent of the world's population — are most vulnerable and concentrated in about 30 to 40 countries which already receive humanitarian assistance and will see a big drop in incomes as the virus spreads and governments impose restrictive measures and lockdowns.</p>.<p><strong><a href="https://www.deccanherald.com/national/coronavirus-live-updates-india-sees-lowest-daily-growth-rate-tally-crosses-26k-concerns-mount-over-maharashtra-827545.html" target="_blank">For latest updates and live news on coronavirus, click here</a></strong></p>.<p>“If you wanted to protect them against that drop in income, then probably for about USD 60 billion you could do that,” Lowcock said.</p>.<p>And for something like USD 30 billion, he said, people facing the threat of starvation can get food, and the health response to COVID-19 can be financed.</p>.<p>Lowcock said probably two-thirds of the USD 90 billion could come from international financial institutions like the World Bank and the International Monetary Fund.</p>.<p>“They would need to change the terms on which they provide assistance to some people,” he said.</p>.<p>“So, for example, they would need to reduce interest rates and provide some debt relief. But they have the firepower if they were given a bit more subsidy to probably meet about two-thirds of the costs.”</p>.<p>Lowcock said the remaining one-third could be financed by a one-time increase in government development assistance.</p>.<p>He said the argument he's making is that a one-off 20 per cent increase “will save you having to deal with a 10-year problem.” “USD 90 billion is a lot of money but it is an affordable sum of money,” he said.</p>.<p>The UN is not going to appeal for USD 90 billion, Lowcock said, but “what I am suggesting is a lot of the suffering and loss of life can be contained within sums of money which are imaginable.”</p>.<p>UN Secretary-General Antonio Guterres did launch a USD 2 billion appeal on March 25 to help vulnerable and conflict-torn countries in the Middle East, Asia, Africa and South America tackle the coronavirus pandemic.</p>.<p>Lowcock said he is encouraged the appeal has received a little over USD 1 billion in one month, including 300 million euros from Germany announced Monday evening.</p>.<p>On May 7, he said, a revised appeal will be launched seeking additional resources because the pandemic is growing and new countries need help.</p>.<p>Lowcock stressed that many things about COVID-19 aren't known including how it spreads in countries that are warmer and more humid, how it interacts with other illnesses like malaria and HIV/AIDS, how it acts in situations where there is a lot of malnutrition and hunger, its impact in low income countries where people on average are younger, and whether people who recover have some protection against a future infection.</p>.<p>Lowcock, who is the UN undersecretary-general for humanitarian affairs, expressed hope that scientists will find the answers to these and other questions in the coming months.</p>.<p>In the poorest parts of the world, he said, “the growth in case numbers is not yet as exponential as we've seen in, for example, in North America and Europe.”</p>.<p>He said the curve is accelerating in African and cited some recent modeling by the London School of Hygiene and Tropical Medicine “suggesting that many African countries will have a thousand new cases a week by May 1, and a few weeks after that could be getting 10,000 cases a week.”</p>.<p>Restrictive measures imposed by governments to tackle the pandemic are likely to have a bigger impact in poorer countries than wealthier ones because of the number of day laborers and hungry people who can't survive on their own resources, he said.</p>.<p>“But the biggest impacts, we expect ... will arise from the economic consequences of the pandemic,” he said. (AP) CPS</p>