Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

World Bank Provides Egypt with $ 7.9 Mln to Tackle COVID-19


Fri 03 Apr 2020 | 11:14 PM
Taarek Refaat

The World Bank announced on Friday that it made around $ 7.9 million available to the Egyptian government to fund emergency response activities related to the outbreak of the new coronavirus (Covid-19), after activating the possible emergency plan announced by the bank on March 20, and through the "Health Care System Development Project".

“The World Bank is rapidly developing the resources necessary to support emergency response activities and implementing a preventive plan in Egypt to counter the outbreak of the coronavirus,” Regional Director of the World Bank office Marina Weiss.

Weiss explained that activating the emergency response component will support the Egyptian government in implementing the preventive plan to face the pandemic.

She pointed out that the project to develop the health care system in Egypt aims to: (a) improve the quality of primary and secondary health care services; (b) enhance the demand for health and family planning services; (c) support efforts to prevent hepatitis C and combat it.

Globally, the World Bank Group (WBG) has launched a $ 14 billion rapid financing package to strengthen measures to tackle the coronavirus COVID-19 outbreak in developing countries and to shorten recovery period.

The immediate response includes providing financing, policy advice and technical assistance to help countries cope with the health and economic impacts of the pandemic.

The group provides $ 8 billion in funding to help private sector companies affected by the epidemic world wide to help them maintain jobs and reduce lay offs.

Moreover, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) will initially provide $ 6 billion for health purposes.

With the increased support that countries need, the World Bank Group will provide up to $ 160 billion to member states over a 15-month period to protect poor and needy groups, support businesses and promote economic recovery.