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Coronavirus : World Bank Group sets $12 bln package to help combat the pandemic

Coronavirus : World Bank Group sets $12 bln package to help combat the pandemic
  • Comments   -   Thursday, 05 March 2020 15:57

(Business in Cameroon) - On March 3, 2020, the World Bank Group announced that it is providing $12 billion (over XAF7,000 billion) to assist member countries (Cameroon included) in the fight against the coronavirus pandemic.

Through this new fast track package, the World Bank Group will help developing countries strengthen health systems, including better access to health services to safeguard people from the pandemic, strengthen disease surveillance, bolster public health interventions, and work with the private sector to reduce the impact on economies. The financial package, with financing drawn from across IDA, IBRD and IFC, will be globally coordinated to support country-based responses,” the Bretton Woods institution explains.

 “We are working to provide a fast, flexible response based on developing country needs in dealing with the spread of COVID-19. (…) This includes emergency financing, policy advice, and technical assistance, building on the World Bank Group's existing instruments and expertise to help countries respond to the crisis,” says David Malpass, President of the World Bank Group.

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