THE EFFECTS OF COVID-19 ON THE WORLD BANKING SYSTEM

Abstract

COVID-19 (coronavirus), which emerged in the city of Wuhan, China, and which was later defined as a pandemic by the World Health Organization and negatively affected many sectors of our country, spread all over the world. The epidemic spreads by affecting the economic, social and cultural areas. The COVID-19 (coronavirus) epidemic affected our country and the world in a short time, causing serious health risks, and also affected the banking sector. The World Bank, which is one of the important institutions for the healthy functioning of the financial system, has taken the necessary measures as soon as possible to protect itself from the negative effects of the epidemic and to perform its banking functions safely. In addition, in this difficult period, the World Bank system quickly created the technological infrastructure that will have stronger and more durable structures without wasting time. In this study, the risk profile faced by the World Bank sector during the coronavirus process, which is critical in delivering blood to productive areas in the financial system, as well as the changes in measures, support programs and service provision are examined.