Thursday March 28th, 2024
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World Bank Provides USD 50 Million to Support Egypt Against the Coronavirus

his loan falls under the World Bank’s new Fast-Track Covid-19 Facility, an international effort to strengthen COVID-19 responses and minimize economic recovery time.

Staff Writer

World Bank Provides USD 50 Million to Support Egypt Against the Coronavirus

Remember when the IMF loaned about USD 2.8 billion to Egypt to help our COVID-19 woes? Don't worry, you're not experiencing deja vu; the World Bank has recently pledged USD 50 million to support Egypt in preventing, detecting and responding to the Coronavirus pandemic under its newly-launched Fast Track COVID-19 Facility, a global initiative to strengthen responses to the virus and to expedite the economic recovery process once the pandemic subsides.

The project will concentrate on both the immediate and urgent issues that need support, as highlighted by the Egyptian government National COVID-19 Response Plan. These include distribution of medical equipment and supplies, health worker training, and the operation of isolation and treatment centres. It also focuses on tools to heighten public awareness of how to prevent the virus, because honestly - judging by how many people still want to go hog wild in Sahel this Eid - can there really ever be enough awareness?

“We acknowledge the efforts undertaken by the World Bank Group at these unprecedented times," Minister of International Cooperation Rania El-Mashat said. "This project supports the preparedness efforts and governance of Egypt’s healthcare system. Increased coordinated action to expedite healthcare spending and pave the way for an inclusive post-COVID economic recovery is a national priority.”