Do the normal rules of the game apply in international organizations during a global pandemic? We explore this question by comparing regular and COVID-19 World Bank loans. Analyzing lending from April 2, 2020 (the start of COVID-19 lending) to December 31, 2020, we find different results for the two types of World Bank loans. Looking at regular loans, countries that vote more in line with the U.S. on UN General Assembly resolutions are more likely to receive loans. For COVID-19 loans, geopolitics is not a significant factor. In contrast to ordinary business, the World Bank appears to have kept politics out of its pandemic response, instead more effectively focusing on provision of an important international public good.

在全球大流行期间，正常的游戏规则是否适用于国际组织？我们通过比较常规贷款和 COVID-19 世界银行贷款来探讨这个问题。通过分析 2020 年 4 月 2 日（COVID-19 贷款开始）到 2020 年 12 月 31 日的贷款，我们发现两种类型的世界银行贷款有不同的结果。从常规贷款来看，在联合国大会决议上投票与美国更加一致的国家更有可能获得贷款。对于 COVID-19 贷款来说，地缘政治并不是一个重要因素。与普通企业不同的是，世界银行似乎将政治排除在疫情应对之外，而是更有效地专注于提供重要的国际公共产品。