The World Bank’s Board of Executive Directors has approved $1.9 billion first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 (coronavirus) response.
However, the global financial powerhouse excluded Nigeria from the list of the 25 countries to benefit from the support.


The organization said that the decision was reached by the board on Thursday and it was prepared to deploy about $160 billion in the next 15 months with a view to helping countries deal with the COVID-19 pandemic and quick economic recovery.


A statement by the bank said, “The World Bank Group is prepared to deploy up to $160 billion over the next 15 months to support COVID-19 measures that will help countries respond to immediate health consequences of the pandemic and bolster economic recovery.
“The broader economic programme will aim to shorten the time to recovery, create conditions for growth, support small and medium enterprises, and help protect the poor and vulnerable. There will be a strong poverty focus in these operations, with an emphasis on policy-based financing, and protecting the poorest households and the environment.”
The bank’s president, David Malpass, was quoted as saying, “The World Bank Group is taking broad, fast action to reduce the spread of COVID-19 and we already have health response operations moving forward in over 65 countries.
“We are working to strengthen developing nations’ ability to respond to the COVID-19 pandemic and shorten the time to economic and social recovery. The poorest and most vulnerable countries will likely be hit the hardest, and our teams around the world remain focused on country-level and regional solutions to address the ongoing crisis.”


According to the bank, “new operations are moving forward in over 40 countries using the fast-track process.”
It said that it was working to redeploy resources in existing World Bank-financed projects worth up to $1.7 billion, including through restructuring, use of emergency components of existing projects (CERCs) and triggering of CAT DDOs and spanning every region.


Responding to widespread supply chain disruptions, the bank said it was also helping countries access critically needed medical supplies by reaching out to suppliers on behalf of governments.


It said that it was equally encouraging other global bodies to provide financial support to developing countries for the COVID-19 health response.
“This fast response package will save lives and help detect, prevent and respond to COVID-19 in the countries we serve,” said Axel van Trotsenburg, World Bank Managing Director of Operations. “Our country operations will be coordinated at a global level to ensure best practice is quickly shared, including approaches to strengthen national health systems and prepare for potential follow-on waves of this devastating virus.”


Only Ethiopia and the Democratic Republic of Congo are to benefit from the initial $1. 9bn response.
$82 million will help Ethiopia address critical needs for COVID-19 preparedness and response, including the provision of vital medical equipment, health system capacity-building, and support to establish treatment centres.
In the Democratic Republic of Congo, $47 million will provide immediate support to put in place containment strategies, train medical staff and provide equipment to ensure rapid case detection and contact tracing.



https://www.vanguardngr.com/2020/04/world-bank-excludes-nigeria-in-1-9bn-covid-19-response-launch/

Hmmmm...The richest African man and woman is from Nigeria so......

Who will want to support a fraudulent government of propaganda. Were they actually expecting help from world Bank, after they warned them about taking any Chinese loan. They know they can't get support from anywhere, that's why they have resorted to their creditors (Chinese) for help.

Tpave:
Hmmmm...The richest African man and woman is from Nigeria so......

I think that is currently irrelevant.

I strongly support the move. They'd end up looting the money. We saw the way the fed govt wanted to give several millions of dollars to bagudu, the kebbi state governor who was a courier to Abacha in his time as head of state, the same who served a jail term in America for same purpose, as largesse out of the returned Abacha loot in January before their secret was leaked to the USA govt and they quickly denied it.

This government is never serious. When you want to help someday, at least, you'd appraise him/her based on the little done so far to warrant such help. How can they help a country of over 200 million population with less than 200 functional ventilators in spite of their rich status in Africa and among OPEC menner nations ? Ghana has up to that qty and i think they deserve such help. Let our leaders keep wasting our resources in western hospitals.

Even Nigerian Government selected poorest of the poor. World Bank only used same measure.

I will advise the Ministry if Finance to start applying for debt relief. At least we have a ground for that.

Whatever.

The Nigeria government has repeatedly shown the world that it is highly irresponsible.... Now any help granted to an irresponsible child will end up wasted.

No one wants to be in bed with a propagandist government

Ivimilly:
No one wants to be in bed with a propagandist government

...and I wonder why they think the world aren't seeing them??

[s]

johnmartus:
Whatever.

[/s]

When other countries collect loans, their leaders are smart, they are responsible, but when Nigeria collect or try to collect loan, it's a different story, it's the other way around.

This is when people hate their own country so much, even collecting loans that they must pay back with crazy IMF conditions makes them better than Nigeria.

Confused people, they just comment to show that they hate Nigeria, no common sense...

Not good.

Not surprising. Nigeria's reputation as the world's headquarter of gross mismanagement and corruption precedes it

We should have had more deaths from COVID19, now we have missed this great opportunity.

Charleys:
We should have had more deaths from COVID19, now we have missed this great opportunity.

Abeg explain

henrycloud:



Abeg explain

Go wash your hands first.
But you need more deaths to make the world bank consider you for such loans.

Charleys:


Go wash your hands first.
But you need more deaths to make the world bank consider you for such loans.

I thought so too...but I pray it doesn't get worse.. Coz even if financial help is granted by the international community, it's impact will only reflect on the pages of newspapers.

Good

henrycloud:


I thought so too...but I pray it doesn't get worse.. Coz even if financial help is granted by the international community, it's impact will only reflect on the pages of newspapers.

Hahahahaha just like minister of humanitarian affairs sharing "relief materials" but she never pay npower beneficiaries. They opened a thread on nairaland and was crying.

Charleys:



Hahahahaha just like minister of humanitarian affairs sharing "relief materials" but she never pay npower beneficiaries. They opened a thread on nairaland and was crying.

She is only busy relief-ing her pocket

They know that they 'll embezzle the funds.

EzzyCarter:
Not surprising. Nigeria's reputation as the world's headquarter of gross mismanagement and corruption precedes it

The Republic Of The Congo the 165th most corrupt country in the world is $47 million loan from IMF, worse than Nigeria, but in your hateful mind, they are still better than Nigeria.

So if it is about corruption, why give money to countries that are even more corrupt than Nigeria.

Hatred no dey make you people see sense and knowledge at all.

idealogical:




The Republic Of The Congo the 165th most corrupt country in the world is $47 million loan from IMF, worse than Nigeria, but in your hateful mind, they are still better than Nigeria.

So if it is about corruption, why give money to countries that are even more corrupt than Nigeria.

Hatred no dey make you people see sense and knowledge at all.

I habor no hate in my heart and I'd love nothing more than to see my country great again.
But if stating things as they presently are is what you call hatred for my country, then so be it

People who always complain about Nigeria’s huge debt profile are now complaining that World bank did not give us Covid-19 loan.

Vanguard that reported the news didn’t even bother to speak to anybody from the ministry of finance or debt management office if the country applied for any Covid-19 support facility from the world. They just saw the report that Congo and Eritrea will benefit at the first instance and they concluded that Nigeria was excluded. In the same vain, I can also conclude that world bank excluded South Africa, Egypt, Ghana, Algeria, Angola etc.

It is also funny how they portrayed the world bank loan as some sort of gift to help the countries. The money is a loan and not a gift.

How would they give us when our government lied that they do not receive any kobo from any private sector

So excited. Finally we can all rest!

EzzyCarter:
Not surprising. Nigeria's reputation as the world's headquarter of gross mismanagement and corruption precedes it

Most developing country leaders are corrupt no doubts, i believe there are countries that need the world bank help urgently more than Nigeria. The cash Nigerian billionaires have donated is far more any help from world bank for now.

Hope they can cancel the lockdown now

World Bank knows if APC government collect that money,they will share among them, including zombies 30k monthly allowance

Good one