The World Bank has announced thirty-one point two billion naira to support Nigeria’s fight against the COVID-19 pandemic.
Announcing the support in a statement, the bank said the move is to help Nigeria and other African countries in mitigating the impact of the COVID-19 pandemic by providing direct and long-term financial support over the next fifteen months.
It said the World Bank made the fund available for immediate support in strengthening the public health response through the Regional Disease Surveillance Systems Enhancement Project, REDISSE.
“In addition, the World Bank has been asked to provide a multi-pronged package of support over the next six months to strengthen the country’s preparedness for the immediate health crisis and provide the Federal Government with budget support for a pro-poor stimulus package and the long-term recovery.
Together with partners, the World Bank is discussing with states and relevant federal agencies on how best to protect livelihoods of poor and vulnerable families, and support Micro, Small and Medium Enterprises, MSME, to enable recovery.
Meanwhile, Managing Director of the International Monetary Fund, IMF, Ms. Kristalina Georgieva, has said that her team is working on Nigeria’s request for three point four billion dollars COVID-19 facility request.
According to her, a proposal has been prepared which would be tabled before the Executive Board of IMF for approval, as soon as possible.
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