World Bank pledges to give $150 Million to fight Zika Virus

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The World Bank Group announced Thursday it will extend $150 million in financing to Latin American and Caribbean nations affected by the Zika virus, a mosquito-borne disease that’s been linked to a serious birth defect and is estimated to have only a “moderate” economic impact in the short term. Initial projections by the bank say Zika will cost the region about $3.5 billion, or 0.06 percent of gross domestic product, in 2016. The damage could grow to more than 1 percent of GDP, however, in Caribbean nations that are heavily dependent on tourism.