News & Analysis: World Bank

World Bank Announces $15 Million to Mitigate the Impact of COVID-19 in Seychelles

“The World Bank approved on June 25 a $15 million loan from the International Bank for Reconstruction and Development in support of the Republic of Seychelles’ response to the economic and social fallout of the COVID-19 pandemic. The Development Policy Lending will help enhance the country’s response mechanisms in health, social protection and the private sector, and to support the country’s post-crisis recovery through strengthened financial systems and climate resilience.”

via World Bank

Benin: $50 Million to Boost Growth Beyond the COVID-19 Crisis

“The World Bank Board of Directors today approved an International Development Association additional financing of $50 million to help Benin mitigate the impact of the coronavirus health crisis in the socio-economic recovery phase.”

via World Bank

Conversations with Michael Milken: The World Bank’s Jingdong Hua

“I certainly hope this is a unique moment where we will have profound conversations, not only about our own lessons or our own challenges, but about the future of humanity….This lockdown gives us the opportunity to have long conversations that otherwise would not have happened.”

via Milken Institute

Accelerating Digital Transformation in Zambia: Digital Economy Diagnostic Report

“The Zambia Digital Economy Diagnostic, a new report developed by the World Bank, finds that Zambia is making significant strides towards the use of digital tools to achieve the social and economic transformation goals set forth in its Vision 2030.”

via World Bank

Nigeria to Keep the Lights on and Power its Economy

“The World Bank Board of Directors approved today the Power Sector Recovery Operation of $750 million in International Development Association credit to improve the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability in the power sector in Nigeria.”

via World Bank

World Bank Approves $55 Million to Sustain Somalia’s Reforms and Fiscal Response to Multiple Crises

“The World Bank Board of Directors today approved a $55 million International Development Assistance grant to support Somalia’s economic recovery through continued fiscal and other economic policy reforms. The policies will strengthen fiscal management and promote inclusive private sector-led growth.”

via World Bank

World Bank Approves $US500 Million to support Morocco’s financial and digital inclusion reforms

“The World Bank Board of Executive Directors approved today a US$500 million Financial and Digital Inclusion Development Policy Financing program, which will support key policy reforms to promote an enabling environment for digital transformation.”

via World Bank

Senegal COVID-19 Response Gets Additional Financial Boost from World Bank

“The World Bank Board of Executive Directors approved on Tuesday, a $100 million – half in grant and half in credit – from the International Development Association to help the Government of Senegal in responding to the social and economic impact of the pandemic and improving access to services for the most vulnerable.”

via World Bank

World Bank Provides Additional Support to Help Ethiopia Mitigate the Economic Impacts of COVID-19

“The World Bank’s Board of Executive Directors today approved $250 million … in supplemental financing for the ongoing Second Ethiopia Growth and Competitiveness Programmatic Development Policy Financing. This funding is geared towards helping Ethiopia to revitalize the economy by broadening the role of the private sector and attaining a more sustainable development path.”

via World Bank

World Bank has ‘stretched’ its capacity in coronavirus response, Malpass says

“The World Bank has reached the limit of support it can provide to low- and middle-income countries recovering from the coronavirus pandemic, even while acknowledging those nations require more resources than are currently available, the institution’s president said Tuesday.”

via Devex