The World Bank approved today a loan of US$100 million to support the response to the COVID-19 emergency in the Dominican Republic. This financing will help the country’s efforts to limit the adverse impacts of COVID-19 by addressing both the immediate health risks and the socio-economic effects on poor and vulnerable households. Previously, in March 2020, the World Bank disbursed US$150 million from a contingent line of credit for disasters and health-related events. This new loan brings total World Bank financing for the crisis to US$250 million.
“This World Bank financing supports country measures to address the socio-economic impacts of the COVID19,” said Alessandro Legrottaglie, World Bank Country Manager. These include measures to improve the capacity of the health system, support the most vulnerable population, and reduce the financial burden on households and businesses.
The World Bank financing is part of a coordinated response developed in collaboration with international partners.
World Bank Group Response to COVID-19 (coronavirus)
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. We are increasing disease surveillance, improving public health interventions, and helping the private sector continue to operate and sustain jobs. Over the next 15 months, we will be deploying up to $160 billion in financial support to help countries protect the poor and vulnerable, support businesses, and bolster economic recovery, including $50 billion of new IDA resources in grants or highly concessional terms.
Source: Dominican Today.
