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Ebola: World Bank Group Provides New Financing to Help Guinea, Liberia and Sierra Leone Recover from Ebola Emergency
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THE WORLD BANK April 17, 2015
New GDP Estimates Show International Support Vital to Speed Recovery
WASHINGTON--The World Bank Group (WBG) announced today that it would provide at least US$650 million during the next 12 to 18 months to help Guinea, Liberia and Sierra Leone recover from the devastating social and economic impact of the Ebola crisis and advance their longer-term development needs. The new WBG pledge brings the organization’s total financing for Ebola response and recovery efforts to date to US$1.62 billion.
The additional funding announcement comes as the WBG releases new GDP estimates showing that the Ebola epidemic continues to cripple the economies of Guinea, Liberia and Sierra Leone. Estimated GDP losses for the three countries in 2015 rose to US$2.2 billion: US$240 million for Liberia, US$535 million for Guinea and US$1.4 billion for Sierra Leone. In addition to the severe effects of Ebola, the economic downturn in the three countries is aggravated by the sharp decline in global iron ore prices, as well as the collapse of the mining sector in Sierra Leone...
In line with the countries’ recovery plans, the five priority areas for the additional IDA funds include: strengthening health systems and frontline care; agriculture; education; cash transfers and other social protection programs; and lifesaving infrastructure such as electricity, water, sanitation and roads. The funds also will be used to develop a regional disease surveillance system across West Africa that will help prevent or contain future pandemics.
Read complete release.
Also see GDP report.
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Ebola-hit countries call for $8 bn for 'Marshall Plan'
AFP by Paul Handley April 17, 2015
Washington - The three West African countries hit hardest by the Ebola epidemic called for an $8 billion "Marshall Plan" on Friday to help rebuild their economies and boost prevention efforts.
With the number of new cases having dwindled after the disease took more than 10,000 lives over the past year, Guinea, Liberia and Sierra Leone said they need much more financial aid to overcome the disaster and ensure it can't happen again.
Liberian President Ellen Johnson Sirleaf told global financial and aid leaders in Washington that while sum was high, it was crucial to help seal recovery in the three countries....
Read complete story.
http://news.yahoo.com/ebola-hit-countries-call-8-bn-marshall-plan-142939966.html