The World Bank Group in Lockdown Readings — Related Topics

-        In an article on the World Bank Group page, which has 189 members, the launch of a wide campaign was announced to provide emergency health support to some of the affected countries to confront the spread of the coronavirus pandemic in the world. The blog post, in addition to the Group’s emergency health assistance program, showed from the World Bank Group’s experience with previous shocks that preserving firms’ ability to solve problems is the key to preserving jobs and limiting economic damage. In addition to new investments, therefore, there is a broad program to support the private sector in some countries. Given the importance of the blog post published yesterday, Thursday 2-4-2020, on the World Bank Group’s website, I quote below what its texts said, although my viewing of the map in front of me at the top of the referenced announcement on the World Bank Group page does not indicate any country in the Arab Middle East included in this urgent program except Yemen, Somalia, Djibouti and Mauritania, according to my initial analysis and as indicated on the map in yellow; and in my estimation this first phase of the program is urgent and has prioritized rankings according to the magnitude of the resulting damages as they assess them, according to an explanation on the mentioned map that indicates this COVID-19… Emergency Support….” Initial Project Countries .....أما نصوص المقال فكانت كما يلي

-        The World Bank Group launches initial emergency health operations for COVID-19 (the coronavirus), strengthening responses in developing countries. The broader economic program will provide up to $160 billion over the next fifteen months. Many low- and middle-income countries around the world are still in the early stages of the COVID-19 pandemic, but the impact is already tangible. Health systems are strained in Ethiopia and Yemen; more medical staff are needed in countries such as Haiti and Mongolia. Millions of children cannot go to school in Pakistan and need remote learning solutions. The risks posed by the coronavirus are particularly high for millions of people living in poverty or who have only recently escaped it..!!

-        And with the approval of its Board of Directors today, the Group is immediately launching emergency support through operations around the world. This urgent assistance to governments and businesses is only the beginning of a broader effort. In light of the unprecedented challenges posed by COVID-19, the World Bank Group expects to deploy up to $160 billion over the next 15 months to help countries protect the poor and vulnerable, support businesses, and bolster economic recovery.

-        Affirming the vital role that World Bank Group institutions can play, President David Malpass said that "the poorest and most vulnerable countries are likely to be the hardest hit." He stressed that "the World Bank Group is taking broad and rapid action to limit the spread of COVID-19 and we already have health response operations ready to go in more than 65 countries.
Special allocations for rapid financing allow an initial set of World Bank projects totaling $1.9 billion to move quickly in 25 countries. Bank teams are also working with countries to rapidly reallocate another $1.7 billion from existing projects to the urgent response to and recovery from the pandemic. This includes restructuring and repurposing emergency components of projects in addition to emergency financing instruments designed for disasters."

-        These initial efforts focus on helping health systems address the immediate challenges of COVID-19. For example, in countries ranging from Afghanistan and Haiti to India, Mongolia and Tajikistan, financing will help bring more medical staff on board and ensure they are well trained and equipped to provide emergency care. In countries such as Ecuador and the Kyrgyz Republic, it will help ensure public awareness campaigns that deliver strong prevention and protection messages to citizens in the short and medium term. In Djibouti, Ethiopia, Yemen, among other countries, increased resources to fight the pandemic will also support longer-term efforts that strengthen and build national health system capacity.

-        The Democratic Republic of Congo illustrates how projects will help, from early detection of the virus to contact tracing, a containment plug to limit its spread from the capital, and large-scale public information campaigns. Financing will also equip and rehabilitate key primary care facilities so they can operate at the standards necessary to combat the pandemic.
In Pakistan, Bank support will be critical to enable remote learning for 50 million children whose schools have been closed. Emergency financing here will also enable basic food to reach 40,000 people whose movement will be restricted for up to 6 months, and will train health workers to monitor and help prevent gender-based violence in households under quarantine.
And in the domain of supporting the private sector in affected countries, the article added that: In addition to World Bank projects, the emergency financing includes $8 billion from the International Finance Corporation (IFC), with work underway to help the private sector respond to the pandemic. Experience from past shocks shows that preserving firms’ ability to solve problems is key to saving jobs and limiting economic harm. In addition to new investments, the IFC is expanding trade finance and working capital lines for clients. Many World Bank Group efforts will also continue to focus on small businesses so they can resume their major contributions to growth and jobs in many client countries.

-        While completing direct assistance to governments and private companies, the World Bank Group is addressing disruptions in global supply chains so countries can access urgently needed medical supplies. The World Bank is engaging with suppliers on behalf of governments to help ensure suppliers can provide their services during global emergencies.
The broader economic program of the World Bank Group is also taking shape rapidly and could provide up to $160 billion to support client countries over the next 15 months. One of its initial components will be $6 billion in urgent loan guarantees from the Multilateral Investment Guarantee Agency (MIGA). This will allow the purchase of urgent medical equipment and provide working capital to firms, including small firms, while supporting governments’ short-term financing needs.
Through financing and a wide range of technical assistance, the World Bank Group will help countries shorten their recovery time and lay foundations for future growth. In all efforts to combat COVID-19, the focus will be on solutions that can help countries ensure protection and restore opportunities for the poorest and most vulnerable people.

-        Date: 3-4-2020