Emergency Financing for Locust Affected Countries will help people recover from losses
WASHINGTON, May 21, 2020 — The World Bank Group approved today a US$500 million program to help countries in Africa and the Middle East fight the locust swarms that are threatening the food security and livelihoods of millions of people.
The Emergency Locust Response Program (ELRP), approved today by the World Bank’s Board of Executive Directors, will focus on providing immediate assistance to help poor and vulnerable farmers, herders, and rural households overcome one of the worst locust upsurges in decades. ELRP will provide immediate support to affected households through targeted social safety nets like cash transfers, while investing in the medium-term recovery of agriculture and livestock production systems and rural livelihoods in affected countries.
In the global crisis caused by the coronavirus (COVID-19), the World Bank is helping client countries respond. The World Bank Group will deploy up to $160 billion over the next 15 months to support COVID-19 measures that will help countries respond to immediate health consequences of the pandemic, support households and firms, and bolster economic recovery. Our first package of fast-track emergency health financing launched on April 2, 2020, and we are working with our borrowers as they move to implement emergency projects. A key component of this implementation is client access to critical medical equipment and supplies.
The fast spread of severe acute respiratory syndrome coronavirus 2 has resulted in the emergence of several hot-spots around the world. Several of these are located in areas associated with high levels of air pollution. This study investigates the relationship between exposure to particulate matter and COVID-19 incidence in 355 municipalities in the Netherlands. The results show that atmospheric particulate matter with diameter less than 2.5 is a highly significant predictor of the number of confirmed COVID-19 cases and related hospital admissions. The estimates suggest that expected COVID-19 cases increase by nearly 100 percent when pollution concentrations increase by 20 percent.
As the world battles the coronavirus (COVID-19) pandemic, and mine sites across the world delay or suspend operations, we are reminded of Matshona Dhliwayo’s quote: “stars are born out of dark moments.” While the price of most so-called “critical minerals” may be down now, demand for these minerals will rise again, and certainly well before 2050. Indeed, the World Bank Group’s latest report has found that the more ambitious the climate targets become, the more minerals and metals will be needed for a low-carbon future. Continue reading →
The pandemic has already had profound impacts on education. But it is possible to counter those shocks, and to turn crisis into opportunity. The policy responses to achieve this can be summarized in these three overlapping phases.
We are living through unprecedented times. The impact of the novel coronavirus and its disease, COVID-19, has reverberated through every corner of the globe—taking lives, destroying livelihoods, and changing everything about how we interact with each other and the world.
The economic impact of #COVID19 will hit developing countries hard. What can be done to support companies and preserve jobs? Join IFC’s Chief Operating Officer, Stephanie von Friedeburg, for discussion on the topic.
The COVID-19 pandemic is uncharted territory for every country in the world. It has unleashed both a global health emergency and an unprecedented economic crisis of historic magnitude. Even as the coronavirus continues to spread, the World Bank estimates that, between 2019 and 2020, the global economy will shrink by $4.2 trillion dollars. That is substantially bigger than South Asia’s entire regional economy (which is about $3.5 trillion), and as if we somehow wiped both Germany and Belgium off the economic map. Worse still, the fall from where we expected to be in 2021 if COVID-19 hadn’t hit is closer to $7.5 trillion dollars—equivalent to 40% of the entire U.S. economy, as well as larger than the combined GDP of Latin America and the Caribbean plus the Middle East and North Africa.