World Bank Approves $ 130 Million to Boost Ghana’s COVID-19 Response | Business news

The World Bank’s Board of Executive Directors approved on Tuesday, November 10, 2020, an additional $ 130 million loan from the International Development Association (IDA) for the Ghana COVID-19 Emergency Preparedness and Response Project.

The additional funding in the health sector will help the Government of Ghana step up its efforts to mitigate the resurgence of the COVID-19 pandemic and reopen its economy safely.

“This additional funding is timely and critical to saving lives and building resilient systems by further increasing capacity for surveillance, diagnosis, treatment with increased availability of beds in intensive care units and adoption of new COVID-19 drugs. These are comprehensive efforts to achieve Universal Health Coverage, which Ghana has committed to as a priority, ”said Pierre Laporte, World Bank National Director for Ghana, Liberia and Sierra Leone.

The project will strengthen the efforts of the Government of Ghana to prevent and contain the virus and safely reactivate socio-economic activities in the country. It will also help prepare for the future deployment of the COVID-19 vaccine.

“The project complements the investments of the World Bank Group and other development partners in disease control and surveillance and citizen participation. We will continue to work closely with other partners to support the scaling up of Ghana’s COVID-19 response and ensure the provision of essential health and nutrition services, ”said Anthony Seddoh, Senior Health Specialist at the World Bank Group.

The project will also expand communication and awareness campaigns across the country to reduce infection risks and increase understanding of COVID-19 vaccines. Support for people with disabilities and other vulnerable groups, such as survivors of gender-based violence, who have been disproportionately affected by the pandemic will increase.

The World Bank Group, one of the largest sources of finance and knowledge for developing countries, is taking comprehensive and swift action to help developing countries strengthen their response to a pandemic. 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 maintain jobs.

The World Bank Group will make 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 strengthen economic recovery. This includes $ 50 billion of new IDA resources through grants and concessional loans and $ 12 billion for developing countries to fund the purchase and distribution of COVID-19 vaccines.