IMF Executive Board Completes the Third Review of Angola’s Extended Arrangement Under the Extended Fund Facility and Augments Disbursement to Address the Impact of COVID-19

“The Executive Board of the IMF today completed the third review of Angola’s economic program supported by an extended arrangement under the Extended Fund Facility. Completion of this review unlocks access to SDR 731.7 million (about US$1 billion), bringing total disbursements under the extended arrangement to SDR 1,804.7 million.”

via IMF

World Bank Provides US$300 Million Additional Financing To Boost Service Delivery Through Local Governments in Uganda

“The World Bank Board of Directors today approved $300 million in additional financing to the Uganda Intergovernmental Fiscal Transfers Program for Results to boost local governments service delivery in education, health, water and environment, and micro irrigation, including in areas hosting large populations of refugees.”

via World Bank

Secretary-General’s remarks to the First Access to COVID-19 Tools Accelerator Facilitation Council Meeting

“‘We must start immediately by massively expanding new and existing tools that can rapidly respond to new cases and provide vital treatment to suppress transmission and save lives, especially over the next 12 months. I know many pin their hopes on a vaccine — but let’s be clear: there is no panacea in a pandemic.'”

via UNECA

World Bank Approves $86 Million to Improve Access to Financial Services for Micro, Small and Medium Enterprises in Malawi

“‘This project is an important element of the World Bank Group’s response to COVID-19 in Malawi, from relief, through re-structuring, towards ensuring a resilient recovery. This project contributes to relief efforts, with a clear focus on helping communities and businesses persist and find new opportunities.'”

via World Bank

World Bank Approves $86 Million to Improve Access to Financial Services for Micro, Small and Medium Enterprises in Malawi

“The World Bank Board of Executive Directors recently approved an $86 million credit for the Malawi government to increase access to financial services and promote the entrepreneurship and capabilities of micro, small, and medium enterprises in Malawi, including addressing the negative economic effects of COVID-19.”

via World Bank

Madagascar: World Bank Provides $75 Million to Mitigate the Impacts of COVID-19 and Support Recovery

“The World Bank Board of Directors recently approved a US$75 million development policy operation for Madagascar to mitigate the impact of the COVID-19 crisis. The operation will help close a financing gap caused by the COVID-19 crisis while supporting key reforms to reinforce the effectiveness and transparency of the government’s crisis response.”

via World Bank

Gender should be central to Africa’s COVID-19 economic recovery initiatives

“Unless a gender perspective is embraced in COVID-19 recovery initiatives, the ongoing global health pandemic will amplify existing gender disparities leading to worse outcomes for women, especially cross border traders.”

via UNECA

Madagascar: World Bank Provides $75 Million to Mitigate the Impacts of COVID-19 and Support Recovery

“The Madagascar COVID-19 Response Development Policy Financing will help close a financing gap caused by the COVID-19 crisis while supporting key reforms to reinforce the effectiveness and transparency of the government’s crisis response and to lay the foundation for sustained and resilient recovery.”

via World Bank

IMF Approves Augmentation and US$52 Million Disbursement for Mauritania

“The COVID-19 pandemic continues to impose severe health, social, and economic hardships in Mauritania, with a 3.2 percent contraction of output expected in 2020. The IMF’s support will provide resources to mitigate the pandemic’s socio-economic impact and continue with institutional reforms to foster an inclusive recovery.”

via IMF

Central African Republic: World Bank Group launches New Country Partnership Framework, and provides immediate support to economic recovery

“The new Country Partnership Framework aims to boost stabilization, inclusion and resilience, while building state legitimacy and fostering growth. During the five-year period, the WBG will invest in human capital, connectivity, economic management and governance.”

via World Bank