World Bank approved $50m for Egypt Covid-19 response
World Bank will mobilize $50million to Egypt to support it in response against COVID-19. The fund is particularly to support Egypt in detection, prevention and response efforts.
The World Bank Group had established a Fast Track COVID-19 facility to help countries in health and economic emergency response against the pandemic. The facility’s financing is up to $6billion from the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Egypt is eligible for $50million funding based on the criteria set by the facility.
The money will go to development and distribution of medical supplies, training health professionals, quarantining, treatment and isolation facilities and other technological and medical support needed to prevent, detect and respond to the pandemic.
Minister of International Cooperation Rania El-Mashat commented on the decision describing it as a support to Egypt’s efforts and healthcare system, and stressed that the spending on COVID-19 response in order to start the process for an inclusive economic recovery in the post-COVID era is Egypt’s national priority.