US$14 Billion World Bank Fast Track Package for COVID-19

By Abdul Rahman Suagibu –

Photo Credit: World Bank

NEW AFRICA BUSINESS NEWS ( NABN ) Freetown, Sierra Leonne- The World Bank Group is rolling out US$14 billion fast-track package to strengthen the COVID-19 reaction in improving nations and lessen the period to healing. The quick response encompasses financing, policy advanced technical assistance to enable countries to survive with the health and economic consequences of the pestilence. The IFC is providing US$8 billion in financing to help classified firms dominated by the pandemic and retain jobs. IBRD and IDA are making an initial US$6 billion accessible for the health-response. As countries need wider assistance, the World Bank Group will deploy up to US$160 billion over fifteen months to safeguard the impoverished and susceptible, support businesses, and strengthen monetary recuperation.

“This rapid response operation draws from the World Bank Group’s US$14 billion packages of fast-track financing to help countries in their efforts to prevent, detect and re- deterred the spread of COVID-19,” explained Ms. Elene Imnadze – Resident Representative for The Gambia. “It provides the financing needed to strengthen coordination with partners and implement the Government’s National COVID-19 Preparedness and Response Plan.”

The World Bank also ratified  US$10 million bounty from the International Development Association (IDA) for The Gambia, Africa’s smallest Country, to perform emergency mitigation in the countenance of the global COVID-19 plague. The COVID-19 Response and Preparedness Project will intensify patient detection, tracing, and reporting, as well as provide paraphernalia to isolation and medication centers, and boost complaint supervision and diagnostic facility. Nonetheless, It will furthermore concentrate on hazard information and neighborhood attention for boosted perception and abidance with deterrence and public distancing regulations.

Current Outbreak of Coronavirus (COVID-19) Disease- Coronavirus advisory information, World Health Organization & United States, Centers for Disease Control and Prevention

Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.

Coronaviruses are zoonotic, meaning they are transmitted between animals and people.  Detailed investigations found that SARS-CoV was transmitted from civet cats to humans and MERS-CoV from dromedary camels to humans. Several known coronaviruses are circulating in animals that have not yet infected humans.

Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.

Standard recommendations to prevent infection spread include regular hand washing, covering mouth and nose when coughing and sneezing, thoroughly cooking meat and eggs. Avoid close contact with anyone showing symptoms of respiratory illness such as coughing and sneezing. Source- WHO

who.int/emergencies

Coronavirus Q&A, World Health Organization

who.int/news-room

Coronavirus condition overview, World Health Organization

who.int/health-topics

United States, Centers for Disease Control and Prevention

cdc.gov/coronavirus/2019-ncov