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Coronavirus Disease (COVID-19) to Trigger Pandemic Bonds

The current Coronavirus Disease (COVID-19) outbreak will likely trigger payouts for $132.5 million in pandemic catastrophe bonds sponsored by the World Bank Group’s (WBG) Pandemic Emergency Financing Facility (PEF). This funding will be channelled to eligible countries to mitigate the impact of the outbreak and might validate the need for market-based mechanisms to deal with pandemics.