World Bank to finance extra COVID-19 jabs for developing nations through COVAX

AFRICA – The World Bank has announced a new financing mechanism which will allow developing countries to purchase COVID-19 vaccines collectively through the COVAX facility. COVAX was set up to ensure 92 developing territories could access coronavirus vaccines to fight the pandemic, with the cost covered by donors. The new mechanism will allow those countries to buy additional doses on top of the subsidized ones they will already receive via COVAX. Using money from the World Bank and other development banks, the facility says it will make advanced purchases from…

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World Bank approves US$100 million toward improving healthcare services in Somalia

SOMALIA – The World Bank, has approved its first investment in Somalia’s health sector in 30 years, which is financed by a US$75 million International Development Assistance (IDA) grant and an additional US$25 million grant from the Global Financing Facility for Women, Children and Adolescents (GFF). 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. Since inception, IDA has supported development…

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World Bank’s Pandemic Financing Facility bolsters Covid-19 management in Ghana

GHANA – The World Bank, through the Pandemic Emergency Financing Facility (PEF), has provided funds to WHO to enhance the capacity of Ghana’s health system for case management, improve quality of care and early case detection. Since Ghana confirmed the first incidence of Covid-19 in 202, the country has embarked on intense actions to contain the outbreak through instituting proactive measures. Public health measures such as mandatory wearing of facemasks in public places, social distancing, and hand hygiene were instituted to curtail the spread of the virus. However, as the…

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‘War room’ task force convenes to discuss ways on how to help fight COIVD-19 pandemic in developing states

GENEVA – Heads of the World Bank Group (WBG), International Monetary Fund (IMF), World Health organization (WHO) and World Trade organization (WTO) had their first joint task force meeting to discuss and deliberate on COVID-19 Vaccines, Therapeutics and Diagnostics for Developing Countries. The task force dubbed ‘war room’ comes at a crucial time when several developing countries are struggling with new variants and a resurging wave of infections as the dire need of access to vaccines is becoming critical to help curb the pandemic. Out of the issues discussed, accelerating…

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East African nations muster funds to combat the pandemic and restore economic stability

AFRICA – The COVID-19 pandemic is primarily a health crisis and a human tragedy, but it also has far-reaching economic ramifications. As of now, more than 182 million cases of COVID-19 had been recorded worldwide, with nearly 4 million deaths. The number of cases, and deaths, has been growing exponentially. Compared to other regions, the number of recorded cases in Africa is still relatively small, totaling about 5.4 million cases across 47 African countries. Even though the rate of transmission in Africa to date appears to be slower than that…

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World Bank approves new financing to support vaccination campaign in Togo

TOGO – The World Bank has approved a $29.5 million financing to help Togo ‘proceed to the vaccination of its population against the coronavirus and better tackle public health emergencies. The funds break down into $25 million from the International Development Agency (IDA) and $4.5 million from the Health Emergency Preparedness & Response multi-donor trust fund. This should, in effect, enable the West African country to boost the distribution of vaccines and have an appropriate health system that will ensure the success of the ongoing vaccination campaign. The new financing…

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World Bank joins hands with Africa Union to deploy vaccines for 400 million Africans

ETHIOPIA – The World Bank, lead by president, Mr David Malpass, and African Union’s COVID-19 Vaccine Acquisition Task Team (AVATT) have announced a partnership that will accelerate vaccine deployment to at least 400 million Africans. The AVATT had previously secured up to 400 million doses of the Johnson & Johnson single-shot COVID-19 vaccine with the support of the African Export-Import Bank (Afreximbank). The WB and the AVATT stressed the importance that countries get sufficient doses as quickly as possible and in an affordable way, according to the statement. COVID-19 vaccines…

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World Bank approves additional US$54.6m financing to strengthen Burundi’s health system

BURUNDI – The World Bank has approved an additional financing of US$54.6 million for the Health System Support Project (KIRA), in Burundi. Like the parent project, this additional financing from the International Development Association (IDA) aims to increase the use of quality Reproductive, Maternal, Neonatal, Child and Adolescent Health services. In the event of an eligible crisis or emergency, a contingent response component will allow for immediate and effective support to the government. “This new financing will continue to strengthen the various health system pillars in Burundi for the well-being…

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