ZIMBABWE is set to get up to US$7 million from the World
Bank to fight Covid-19 pandemic despite being in arrears with the
Washington-based lender.
The bank will mobilise US$5 million from its Global
Financing Facility Trust Fund to support the nation’s health response to the
outbreak and redirect about US$2 million from its ongoing Zimbabwe Idai
Recovery Project to support affected communities, a World Bank spokesperson
said in an emailed response to questions.
The support will come from the bank’s trust funds and
partners because Zimbabwe is not up to date on its debt-service obligations and
is therefore not eligible to access funds through the bank’s regular financing
channels.
“We recognise this is a global crisis that impacts every
country and we cannot leave anyone behind,” the World Bank said.
It said its existing multi-donor Zimbabwe Reconstruction
Fund technical assistance programme is now focused on supporting the
Government’s emergency-response efforts.
Finance and Economic Development Minister, Professor Mthuli
Ncube, wrote to multilateral lenders, including the International Monetary
Fund, seeking assistance on April 2. More than half of the population needs
food aid, the economy is strained even before the impact of the global
coronavirus pandemic and the country’s health service is facing challenges, he
said. — Bloomberg.
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