The World Bank has pledged $ 12 billion to developing countries, supporting vaccination programs that have failed to keep pace with developed nations.
The World Bank funds will be in the form of a grant or a “compromise too many conditions,” said David Malpass, president of the World Bank, in a statement after the meeting of 27th January looga spoke vaccine investment strategy and engagement in Africa.
“We are preparing emergency vaccination projects with funding from 21 African countries, including the Democratic Republic of Congo, Ethiopia, Niger, Mozambique, Tunisia, Eswatini and Cabo Verde to name a few,” Malpass said. “The funds are available now,” he said.
Africa was hit hard by the Covid 19 infection for the second time with the highest number of deaths compared to the first wave. So the continent needs a large budget to deliver the covid 19 vaccine to save the people and the economy of Africa.
However, according to the World Bank’s latest two-year economic analysis of sub-Saharan Africa, sub-Saharan Africa’s economic growth is projected to be 2.0% in 2020 – near the lowest point in forecast for April 2020.
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The analysis also found that the prospect of recovery is strengthened by taking action to control new wave of disasters and accelerate the emergence of vaccines.
The document also shows that African countries have not lost the opportunity for the COVID-19 crisis as they are increasingly adopting digital technology to increase productivity in existing jobs and increase employment opportunities – especially for women and youth.
To unlock the full benefits of the digital economy, the report recommends policies that accompany digital infrastructure investment – such as a legal framework that promotes competition and innovation in communications, providing reliable and affordable electricity. , invest in education and modernize the skills of informal workers