The Further Financing for COVID-19 Emergency Response Initiatives will allow the acquisition of vaccines and assist nationwide vaccination plans.
WASHINGTON, D.C., April 16, 2021 — The World Financial institution Board of Administrators permitted extra financing of US$50 million for El Salvador and US$20 million for Honduras to implement COVID-19 Emergency Response Initiatives. These monetary assets will assist El Salvador and Honduras buy and deploy COVID-19 vaccines and strengthen the nations’ immunization and associated well being supply techniques.
“Widespread and accessible COVID-19 vaccination is crucial to guard lives and foster an inclusive, sustainable financial restoration. This monetary assist will allow reasonably priced and equitable entry to COVID-19 vaccines for El Salvador and Honduras and can play a vital position in strengthening the nations’ capability to ship high quality well being companies for his or her residents,” mentioned Michel Kerf, World Financial institution Director for Central America and the Dominican Republic. “We’ll proceed to work with Central American nations and the Dominican Republic as they proceed to fight the pandemic and deal with constructing again higher and enhancing the residing situations of their populations, notably the poorest and probably the most susceptible.”
The US$50 million Further Financing for the COVID-19 Emergency Response Challenge in El Salvador will assist finance the procurement of vaccines and key deployment actions equivalent to the acquisition of medical provides, private protecting gear and vaccine cold-chains, and assist communications, human assets, and knowledge techniques. The brand new mortgage expands the US$20 million COVID-19 Emergency Response Challenge for El Salvador, approved by the World Financial institution in April of 2020, to strengthen the nationwide public well being system.
The extra monetary assets are a part of a broader well being response to the pandemic, below the coordination of the Authorities of El Salvador and supported by a number of growth companions, together with the Inter-American Growth Financial institution (IDB), the Pan-American Well being Group/World Well being Group (PAHO/WHO) and the Central American Financial institution for Financial Integration (CABEI).
The US$20 million Further Financing for the COVID-19 Emergency Response Challenge in Honduras will present assets to assist the Authorities buy vaccines and strengthen well being techniques for a profitable vaccine deployment. The credit score may also assist actions such because the procurement of provides, contracting and coaching of human assets, upgrading vaccination monitoring and analysis techniques and communication efforts. The extra financing scales-up the US$20 million COVID-19 Emergency Response Challenge in Honduras, approved in April of 2020.
Investments can be made in coordination with different companions and donors supporting vaccines deployment, together with the PAHO/WHO, IDB, CABEI, the United Nations Kids’s Fund (UNICEF), and america Company for Worldwide Growth (USAID), amongst others.
The US$50 million mortgage for the Further Financing for the COVID-19 Emergency Response Challenge in El Salvador has a closing maturity of 18 years, together with a grace interval of 5 years. The US$20 million credit score for the Further Financing for the COVID-19 Emergency Response Challenge in Honduras has a closing maturity of 30 years, together with a grace interval of 5 years.
World Financial institution Group Response to Covid-19
The World Bank, one of many largest sources of funding and data for growing nations, is taking broad, fast actionto assist growing nations reply to the well being, social and financial impacts of COVID-19. This contains US $12 billion to assist low- and middle-income nations buy and distribute COVID-19 vaccines, exams, and coverings, and strengthen vaccination techniques. The financing builds on the broader World Bank Group COVID-19 response, which helps greater than 100 nations strengthen well being techniques, assist the poorest households, and create supportive situations to keep up livelihoods and jobs for these hit hardest.
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