World Bank supports Ghana’s coronavirus response with $100m

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.

Under this emergency package the World Bank will support the Government of Ghana to help prevent, detect, and respond to the COVID-19 pandemic through the Ghana Emergency Preparedness and Response Project (EPRP).

The EPRP will help strengthen Ghana’s National Laboratories by providing robust systems for the early detection of COVID-19 cases and providing real time disease surveillance and reporting systems of outbreaks.

It will also improve response systems by providing social and financial support and free health services to COVID-19 patients and families who are isolated or quarantined.

Finally, the project will focus on risk communications and community engagement for increased awareness and compliance with prevention measures engaging the Ministry of Health, Ghana Health Service, Ministry of Information and other agencies.

“We are working with the government through this fast track facility to support the country’s efforts to slow transmission, prevent outbreaks and provide better-quality care for all patients, especially the seriously ill,” said World Bank Country Director, Pierre Laporte. “It’s crucial that we all work together with other partners to help minimize the negative impact of the pandemic on health systems, social services and economic activities.”

In addition to the emergency facility, a $65 million contingency emergency response component was triggered from the Greater Accra Resilient and Integrated Development Project (GARID). This contingency financing will support critical activities such as laboratory equipment and chemicals, essential medical equipment and supplies including test kits and personal protection equipment.

The World Bank Group is rolling out a $14 billion fast-track package to strengthen the COVID-19 response in developing countries and shorten the time to recovery.

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

The IFC is providing $8 billion in financing to help private companies affected by the pandemic and preserve jobs. IBRD and IDA are making an initial $6 billion available for the health-response. 

As countries need broader support, the World Bank Group will deploy up to $160 billion over 15 months to protect the poor and vulnerable, support businesses, and bolster economic recovery.

The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives.

IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa.

Resources from IDA bring positive change to the 1.6 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries.

Annual commitments have averaged about $21 billion over the last three years, with about 61 percent going to Africa.

Source: Myjoyonline