World Bank President David Malpass said there are still "many unknowns" about the fast-spreading virus. Malpass said more aid could be required in the future.

"We are working to provide a fast, flexible response based on developing country needs in dealing with the spread of COVID-19," he said."This includes emergency financing, policy advice, and technical assistance, building on the World Bank Group's existing instruments and expertise to help countries respond to the crisis."

He called on the global community to coordinate efforts to limit the transmission of the virus, indicating that the faster everyone acts, the more lives that can be saved.