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First World Bank Support for COVID-19 Vaccine Rollout in Africa
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Cabo Verde to purchase and deploy vaccines for nearly 200,000 people - about 35% of the population - including the 20% priority populations
WASHINGTON, February 11, 2021 The World Bank approved today an additional financing of $5 million from the International Development Association (IDA) to provide the small island nation of Cabo Verde with affordable and equitable access to COVID-19 vaccines. This is the first World Bank-financed operation in Africa to support a country’s COVID-19 immunization plan and help with the purchase and distribution of vaccine in alignment with the COVID-19 Vaccines Global Access (COVAX) Facility.
World Bank extends support to Maldives’ workers impacted by COVID-19
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WASHINGTON, D.C., January 25, 2021 The World Bank’s Board of Executive Directors today approved additional financing of $21.6 million to further help Maldives mitigate the economic impact of the COVID-19 crisis on poor and vulnerable workers and their families.
The additional financing will be utilized to expand the existing COVID-19 Emergency Income Support Project, which was approved by the World Bank’s Board of Executive Directors in June 2020 with funding of $12.8 million. It will help finance the extended duration of the Government’s COVID-19 Income Support Allowance scheme by continuing to provide temporary support of up to MVR 5,000 (approximately $322) per month to workers who have lost their jobs or income as a result of the coronavirus pandemic.
An EU emergency health fund to limit the impact of future crises
Leading finance experts propose an Emergency Health Financing Facility to limit the impact of future crises on the EU
The last systemic crisis
The Global Financial Crash in 2008 brought several EU countries close to the brink of default.
Pre- existing structures were not sufficient to avoid the crisis, but lessons were learnt and new regulation was put in place to stop this happening in the future. This crisis was described as a ‘once in a lifetime systemic crisis’.
However, just over a decade later, the world has found itself in yet another systemic crisis – The Great Lockdown Crisis of 2020. The COVID-19 pandemic, and the necessary restrictions and regulations brought in around the world to curb the spread of the virus, has resulted in a global economic crisis.