World Bank approves additional $130 million for Ghana to fight Covid-19, open Economy

The World Bank Board of Executive Directors has approved an additional credit of $130 million from the International Development Association (IDA) for the Ghana COVID-19 Emergency Preparedness and Response Project.

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

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

World Bank Country Director for Ghana, Liberia and Sierra Leone, Pierre Laporte said “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”.

“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,” Anthony Seddoh, Senior Health Specialist at the World Bank Group also said.

The project will also expand communications and awareness campaigns nationwide to reduce risks of infection and to increase understanding of the COVID-19 vaccines.

It will increase support to persons with disabilities and other vulnerable groups such as survivors from gender-based violence, 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 up to $160 billion over a 15-month period ending June 2021 to help more than 100 countries protect the poor and vulnerable, support businesses, and bolster economic recovery.

This includes $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.