The Board of Executive Directors of the World Bank ‘one of the largest sources of funding for developing countries’ has approved an additional credit of $130 million from the International Development Association (IDA) to support Ghana’s COVID-19 Emergency Preparedness and Response Project.
This according to a press release from the World Bank intimates that the additional financing for the project will boost the health sector as well as strengthen the Government of Ghana’s efforts in its fight against the coronavirus pandemic.
More so, with a sudden spike in COVID-19 active cases from about 398 some weeks ago to approximately 1,156, this will go a long way to step up the government’s attempt to mitigate the resurgence of the coronavirus pandemic, prevent and contain the virus and to revive socioeconomic activities so as to reopen a secure economy for its populace, the World Bank added.
Commenting on the issue, the World Bank Country Director for Ghana, Liberia and Sierra Leone, Pierre Laporte, opined that “This additional funding is timely and critical to save lives and build resilient systems by further increasing capacity of surveillance, diagnosis, treatment with increased availability of intensive care unit beds and adopt new COVID-19 medications. These are integral efforts towards achieving Universal Health Coverage, which Ghana has committed as a priority”.
Also, Anthony Seddoh, Senior Health Specialist at the World Bank Group, sharing his thoughts said “The project complements both the World Bank Group and other development partners’ investments in disease control and surveillance, and citizen engagement. We will continue to work closely with other partners to support the scale up of Ghana’s COVID-19 response and secure essential health and nutrition service delivery”.
The COVID-19 Emergency Preparedness and Response Project will further announce and promote awareness of the virus to the general public to practice the safety protocols put in place, and may likely reduce the risk of infection. Also, this will increase understanding of the COVID-19 vaccines as well as support vulnerable groups such as persons with disabilities, survivors from gender-based violence, the poor, who have been disproportionally affected by the pandemic.
‘The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. It is supporting public health interventions, working to ensure the flow of critical supplies and equipment, and helping the private sector continue to operate and sustain jobs.’
The World Bank Group is making available a total of $160 billion over a 15-month period ending June 2021, to assist more than 100 countries protect the poor and vulnerable, support businesses, and bolster economic recovery. This sum is inclusive of $50 billion of new IDA resources through grants and highly concessional loans and $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines.
