The World Bank announced yesterday, it has increased its Covid-19 vaccine fund for developing countries by $8 billion to $20 billion.<br />'' <br />'' In addition, the bank's private financing arm secured a 600 million euro package for a South African vaccine manufacturer to ramp up production, the institution announced.<br />'' <br />'' Together the actions announced on vaccine production, deployment and financing will save lives, boost economic recovery and help ensure the people in the developing countries have a chance to prosper, World Bank Group President David Malpass told reporters.<br />'' <br />'' The $20 billion is available through 2022 to finance vaccine distribution as well as cold chains and training health workers, the bank said in a statement.<br />'' <br />'' As of Wednesday the bank had distributed $4.4 billion to 51 developing nations, half of which in the form of grants or low-cost loans.<br />'' <br />'' Axel van Trotsenburg, World Bank operations chief, said Significant challenges still remain regarding vaccine deployment and hesitancy. The bank is taking action on all fronts to tackle these challenges.<br />'' <br />'' Since the start of the pandemic the Washington-based development lender has approved more than $150 billion to help address the health and social impacts of the crisis.<br />''  <br />