News & Analysis: World Bank

Sierra Leone to Receive $7.5 Million for COVID-19 Response

“The World Bank Board of Executive Directors approved today a $5 million credit from the International Development Association (IDA) to support the Archipelago of Cabo Verde in strengthening its preparedness and response to the COVID-19 pandemic.”

via World Bank

The World Bank Group Provides $47 Million to Support the Democratic Republic of Congo’s Response to the Coronavirus Pandemic

“The World Bank Group Board of Executive Directors today approved $47 million in financing from the IDA to fund the emergency response to the COVID-19 epidemic in the Democratic Republic of Congo (DRC). The COVID-19 Strategic Preparedness and Response Project aims to boost the capacity of the government of the DRC to prepare for and combat the COVID-19 pandemic.”

via World Bank

World Bank Approves $20 Million for Senegal to Fight COVID-19

“The World Bank Board of Executive Directors approved today a $20 million credit from the International Development Association (IDA)* to support Senegal in its response to the threat of the global COVID-19 pandemic. The Senegal COVID-19 Response project will strengthen the country’s prevention, preparedness and response to the outbreak.”

via World Bank

World Bank Group Provides Emergency Support to Ethiopia to Manage Health, Economic Impacts of COVID-19

“To help Ethiopia mitigate the effects of the COVID-19 pandemic in the country, the World Bank Group’s Board of Executive Directors today approved $82.6 million ($41.3 million grant and $41.3 million credit)… The new COVID-19 Emergency Response and Health Systems Preparedness Project is designed to help Ethiopia develop counter measures to lessen the devastating effects of COVID-19.”

via World Bank

World Bank Group Supports Ghana’s COVID-19 Response

“The World Bank is providing $100 million to Ghana to assist the country in tackling the COVID-19 pandemic. This $100 million will be made available to the government and the people of Ghana as short, medium and long-term support. This financing package includes $35 million in emergency support to help the country provide improved response systems.”

via World Bank

World Bank Supports Cabo Verde’s COVID-19 Response

“The World Bank Board of Executive Directors approved today a $5 million credit from the International Development Association (IDA) to support the Archipelago of Cabo Verde in strengthening its preparedness and response to the COVID-19 pandemic.”

via World Bank

World Bank Supports Mauritania’s COVID-19 Response

“The World Bank Board of Executive Directors approved today a $5.2 million grant from the IDA to support Mauritania in strengthening the national public health preparedness to the COVID-19 pandemic. The Mauritania COVID-19 Response Project will strengthen the country’s capacity to identify, isolate, and provide care to patients with COVID-19.”

via World Bank

Joint Statement from the World Bank Group and the International Monetary Fund Regarding A Call to Action on the Debt of IDA Countries

“With immediate effect—and consistent with national laws of the creditor countries—the World Bank Group and the International Monetary Fund call on all official bilateral creditors to suspend debt payments from IDA countries… This will help with IDA countries’ immediate liquidity needs to tackle challenges posed by the coronavirus outbreak.”

via World Bank Group

Somalia to Receive Debt Relief under the Enhanced HIPC Initiative

“The International Monetary Fund (IMF) and the World Bank’s International Development Association have determined that Somalia has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Somalia is the 37th country to reach this milestone, known as the HIPC Decision Point.”

via IMF

Africa’s rising “unsustainable” debt is driving a wedge between the World Bank and other lenders

“African debt is on the rise, and that fact is causing tensions to spark in unexpected places. Total external debt for sub-Saharan Africa jumped nearly 150% to $583 billion in 2018 from $236 billion 10 years earlier, according to World Bank data. Many now worry the debt load is becoming unsustainable.”

via Quartz Africa