Source: The World Bank Group |

Coronavirus - Nigeria: Phone Survey Data - Monitoring COVID-19 Impact on Firms and Households in Nigeria

This survey is being implemented by the National Bureau of Statistics with technical support from the World Bank

Nigeria was among the first countries in Sub-Saharan Africa to identify COVID-19 (coronavirus) cases and has since implemented strict measures to contain the spread of the virus. At the same time, oil prices plummeted by 60% following the spread of the global pandemic. As the oil sector accounts for the…

Source: The World Bank Group |

Coronavirus - Africa: World Bank Provides $425 Million to Support the Provision of Infrastructure Financing in Eastern and Southern Africa

Infrastructure is expected to be a key driver of economic recovery post COVID-19

The World Bank Board of Directors approved today a total amount of $425 million in International Development Association (IDA)* financing to support the provision of infrastructure finance in Eastern and Southern Africa. The Regional Infrastructure Financing Facility project (RIFF) aims to expand long-term finance to private firms in selected infrastructure…

Source: The World Bank Group |

Coronavirus - Somalia: World Bank approves $55 Million to sustain Somalia’s Reforms and Fiscal Response to Multiple Crises

The supplemental financing helps Somalia ease the effects of the global COVID-19 crisis and continue implementing the reform program

The World Bank Board of Directors today approved a $55 million International Development Assistance (IDA)* grant to support Somalia’s economic recovery through continued fiscal and other economic policy reforms. The policies will strengthen fiscal management and promote inclusive private sector-led growth. The supplemental financing helps Somalia ease the effects of…

Source: The World Bank Group |

Coronavirus: Mauritania making Long-Term Investments for Refugees and Host Communities

Mauritania has been and will remain a safe haven for people who are fleeing armed conflict in the Sahel

On the occasion of World Refugee Day, the World Bank and the United Nations High Commissioner for Refugees (UNHCR) salute the commitment of the Government of Mauritania to continue offering protection to refugees while including the needs of refugee and host communities in the development plans of the country. Download…

Source: The World Bank Group |

Coronavirus - Morocco: The World Bank supports Morocco’s Health Sector in managing Pandemic Impact

Will support the government’s COVID-19 health sector response by strengthening prevention, detection, surveillance, and case management

The World Bank Board of Executive Directors approved today a US$48-million loan to help Morocco manage the effects of the COVID-19 Pandemic as the Kingdom is exiting strict lockdown measures. The loan is part of an ongoing Program for Results project, approved in 2015, and aiming to support primary health…

Source: The World Bank Group |

Coronavirus - Africa: COVID-19 to plunge Global Economy into Worst Recession

Economic activity in the Middle East and North Africa is forecast to contract 4.2% as a result of the pandemic and oil market developments

The swift and massive shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction. According to World Bank forecasts, the global economy will shrink by 5.2% this year. That would represent the deepest recession since the Second World War, with…

Source: The World Bank Group |

Coronavirus - Tanzania: World Bank Economic Analysis Says Tanzania Can Seize Important Opportunities to Mitigate Negative Effects of the COVID-19 Pandemic

The report also has a special highlight on the benefits of investing in Tanzania’s digital economy

Notwithstanding Tanzania’s strong growth performance in 2019, a new World Bank report says its economy will also suffer the effects of the COVID-19 (coronavirus) pandemic and global economic crisis. The World Bank’s 14th Tanzania Economic Update (TEU) forecasts economic growth to slow sharply in 2020, to 2.5 percent from the…

Source: The World Bank Group |

Coronavirus - Africa: Countries can take steps now to rebuild from COVID-19

Short-term response measures to address the health emergency and secure core public services will need to be accompanied by comprehensive policies to boost long-term growth

The coronavirus (COVID-19) pandemic and the economic shutdowns are dealing a severe blow to the global economy and especially poorer countries. Developing countries and the international community can take steps now to speed recovery after the worst of the health crisis has passed and blunt long-term adverse effects, according to…

Source: The World Bank Group |

Coronavirus - Africa: World Bank announces $500 Million to fight locusts, preserve food security and protect livelihoods

The first countries to be financed under the initial phase of the program are Djibouti, Ethiopia, Kenya, and Uganda, with a total financing package of US$160 million

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. Emergency Financing for Locust Affected Countries will help people recover from losses The Emergency Locust…

Source: The World Bank Group |

Coronavirus - Kenya: World Bank Approves $1 Billion Financing for Kenya, to Address COVID-19 Financing Gap and Support Kenya’s Economy

Supporting more transparency in public financial management is a major focus of the operation

The World Bank Board of Directors today approved a $1 billion budget support operation for Kenya, which helps close the fiscal financing gap, while supporting reforms that help advance the government’s inclusive growth agenda, including in affordable housing and support to farmers’ incomes. The Kenya Inclusive Growth and Fiscal Management…