WASHINGTON, D.C., December 8, 2020 – The World Financial institution Board of Administrators authorized a US$20 million mortgage to help Nicaragua’s response to the COVID-19 (Coronavirus) pandemic. This mission will allow the inhabitants, significantly its most susceptible segments, to learn from important medicines and laboratory and hospital gear through the nationwide response to the pandemic.
“The World Financial institution has lengthy been a companion of our nation. With this new financing, which we obtain below extremely concessional circumstances, we can be part of forces to satisfy the wants of our folks,” stated Finance Minister Iván Acosta. “We’re grateful for the belief that the World Financial institution has positioned in our nation, which has been severely impacted by a pandemic and additional affected by the current hurricanes Eta and Iota.”
The Nicaragua COVID-19 Emergency Response Undertaking goals to learn Nicaragua’s 6.3 million inhabitants by serving to to stop, detect and reply to the menace posed by this pandemic. Given their elevated danger of an infection, healthcare staff and particular at-risk inhabitants teams, such because the aged and folks with persistent illnesses, shall be prioritized within the interventions.
Funded by the Worldwide Growth Affiliation (IDA), the a part of the World Financial institution that helps the world’s poorest international locations, the mission shall be applied in collaboration with the United Nations Workplace for Undertaking Companies (UNOPS). Strict fiduciary necessities shall be maintained to make sure that the sources are used to learn the Nicaraguan folks.
“We’ll work carefully with Nicaragua and our United Nations companions to help the response to the COVID-19 pandemic to save lots of lives and advance financial restoration,” stated Kinnon Scott, the World Financial institution Resident Consultant in Nicaragua. “We wish to collaborate with Nicaragua, particularly with its poorest residents, who’ve been disproportionately affected by these 2020 well being and local weather crises.”
The mission will finance vital provides for nationwide hospitals. It’s going to prioritize 19 hospitals situated within the areas of the nation most affected by the pandemic and the extreme climate occasions and, consequently, the place emergency response efforts are concentrated.
The provides eligible for mission financing shall be chosen from an inventory of important life-saving medical and laboratory provides and gear primarily based on unique lists of the World Well being Group (WHO). These embody infusion pumps, important medicines, laryngoscopes, gadgets to observe important indicators, humidifiers and nebulizers. The acquisition of energy-efficient medical gear will assist mitigate local weather change and cut back the financial burden on the healthcare services offering care through the pandemic. Along with strengthening pandemic surveillance, bettering laboratory capability by way of the acquisition of provides will facilitate adaptation to attainable climate-related vector-borne illnesses, thus growing the resilience of Nicaragua’s healthcare system and the portion of its inhabitants susceptible to local weather change.
The US$20 million mortgage for the Nicaragua COVID-19 Emergency Response Undertaking, which is a part of the World Financial institution’s international response to COVID-19, has an implementation interval of two years and three months. The mortgage matures in 30 years, together with a five-year grace interval.
The response of the World Financial institution group to COVID-19 (Coronavirus)
The World Financial institution Group, one of many largest sources of funding and information for growing international locations, is taking broad, quick motion to assist growing international locations strengthen their pandemic response. It’s supporting public well being interventions, working to make sure the circulate of vital provides and gear, and serving to the personal sector proceed to function and maintain jobs.
The World Financial institution Group is making accessible as much as $160 billion over a 15-month interval ending June 2021 to assist greater than 100 international locations defend the poor and susceptible, help companies, and bolster financial restoration. This consists of $50 billion of recent IDA sources by way of grants and extremely concessional loans and $12 billion for growing international locations to finance the acquisition and distribution of COVID-19 vaccines.
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PRESS RELEASE NO: 2020/073/LAC
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