The World Bank says it has received approval for emergency
support operations for developing countries.
In a statement on Thursday, the Bretton Wood institution
said the approval given by its board of executive directors is for the first
group of projects to help 25 countries respond to “immediate health
consequences of the pandemic and bolster economic recovery”.
The first group of projects is said to total $1.9 billion
with the World Bank saying it is ready to deploy $160 billion over the next 15
months.
“The broader economic program will aim to shorten the time
to recovery, create conditions for growth, support small and medium
enterprises, and help protect the poor and vulnerable,” the statement read.
Some of the countries listed to benefit from the first group
of projects are Afghanistan, Argentina, Cabo Verde, Cambodia, Democratic
Republic of Congo, Djibouti, Ecuador, Ethiopia, Ghana, Haiti, India, Kenya,
Kyrgyz Republic.
Others are Maldives, Mauritania, Mongolia, Pakistan,
Paraguay, Sao Tome and Principe, Senegal, Sierra Leone, Sri Lanka, Tajikistan,
The Gambia and Yemen.
Commenting on the project, David Malpass, World Bank
president, said: “The World Bank Group is taking broad, fast action to reduce
the spread of COVID-19 and we already have health response operations moving
forward in over 65 countries.”
“We are working to strengthen developing nations’ ability to
respond to the COVID-19 pandemic and shorten the time to economic and social
recovery. The poorest and most vulnerable countries will likely be hit the
hardest, and our teams around the world remain focused on country-level and
regional solutions to address the ongoing crisis.”
The World Bank also said it is helping countries access
critical medical supplies by reaching out to suppliers on behalf of
governments.
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