US$14 Billion World Bank Fast Track Package for COVID-19

By Abdul Rahman Bangura –

NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leonne- The World Bank Group is rolling out US$14 billion fast-track package to strengthen the COVID-19 reaction in improving nations and lessen the period to healing. The quick response encompasses financing, policy advanced technical assistance to enable countries to survive with the health and economic consequences of the pestilence. The IFC is providing US$8 billion in financing to help classified firms dominated by the pandemic and retain jobs. IBRD and IDA are making an initial US$6 billion accessible for the health-response. As countries need wider assistance, the World Bank Group will deploy up to US$160 billion over fifteen months to safeguard the impoverished and susceptible, support businesses, and strengthen monetary recuperation.

“This rapid response operation draws from the World Bank Group’s US$14 billion packages of fast-track financing to help countries in their efforts to prevent, detect and re- deterred the spread of COVID-19,” explained Ms. Elene Imnadze – Resident Representative for The Gambia. “It provides the financing needed to strengthen coordination with partners and implement the Government’s National COVID-19 Preparedness and Response Plan.”

The World Bank also ratified  US$10 million bounty from the International Development Association (IDA) for The Gambia, Africa’s smallest Country, to perform emergency mitigation in the countenance of the global COVID-19 plague. The COVID-19 Response and Preparedness Project will intensify patient detection, tracing, and reporting, as well as provide paraphernalia to isolation and medication centers, and boost complaint supervision and diagnostic facility. Nonetheless, It will furthermore concentrate on hazard information and neighborhood attention for boosted perception and abidance with deterrence and public distancing regulations.

For New Africa Daily News Abdul Rahman Bangura Reports,  Africa Correspondent