World Bank to provide US $ 120 million for coronavirus fight

General news for Sunday 14 February 2021

Source: business24.com.gh

02/14/2021

The country is expected to receive a loan of $ 120 million from the World Bank to help fight the devastating coronavirus pandemic.

The installation is part of the World Bank Group’s continued support to more than 100 countries in the fight against the disease.

In his appearance before the parliamentary appointments committee on Wednesday, the designated Minister of Health, Kwaku Agyeman-Manu, revealed that the government would soon receive the support.

The additional funding will help the government step up efforts to mitigate the resurgence of the COVID-19 pandemic and to support the economy.

Mr. Agyeman-Manu also revealed that by March, the country will take delivery of 355,000 AstraZeneca vaccines, with plans to purchase vaccines for around 20 million people.

He said Ghana opted for the AstraZeneca vaccine because it can be stored at normal room temperature, unlike other vaccines that require storage at freezing temperatures.

Ghana currently has more than 6,000 active cases of Covid-19 and has recorded 482 deaths. The upsurge in cases has forced many government institutions to rotate their staff, Parliament, where a number of MPs have tested positive, shutting down for three weeks.

The World Bank Group, one of the most important sources of finance and knowledge for developing countries, is taking broad and swift action to help developing countries strengthen their response to the pandemic. It supports public health interventions, works to keep essential supplies and equipment flowing, and helps the private sector continue to function and maintain jobs.

The Group is making up to $ 160 billion available over a 15-month period ending in June 2021 to help more than 100 countries protect the poor and vulnerable, support businesses and support economic recovery. This includes $ 50 billion in new resources from IDA in the form of highly concessional grants and loans and $ 12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines.