The World Bank has approved different amounts of loans to various African countries, to help them mitigate the adverse impacts of the COVID-19 pandemic.
Democratic Republic of Congo (DRC)
The World Bank Group, through the International Development Association (IDA), has approved $47 million for DRC’s emergency response to the pandemic.
The funds will be used to implement containment strategies, train medical personnel, and distribute equipment to ensure rapid testing of potential cases and contact tracing.
Senegal
On the other hand, Senegal will receive a total of $20 million credit from the International Development Association (IDA) to help it strengthen health systems and disease surveillance as part of the national COVID-19 response plan.
Sierra Leone
Sierra Leone will receive a $7.5 million International Development Association (IDA) grant to help them strengthen national systems for public health preparedness.
According to the Bank’s press release dated 2nd April 2020, in order to provide broader support to meet country needs, they will deploy up to $160 billion over 15 months to protect the poor and vulnerable, support businesses, and bolster economic recovery.
International Finance Corporation (IFC), the private sector arm of the World Bank, is contributing $8 billion in financing aimed at helping businesses affected by the pandemic and protecting jobs.
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