World Bank’s IFC Pledges $450M For Ebola-Hit West African Nations; Bank Working To Establish Emergency Epidemic Fund

News outlets report on the World Bank’s International Finance Corporation’s pledge of $450 million to the three countries hardest hit by Ebola — Guinea, Liberia, and Sierra Leone — and efforts by the World Bank and other international agencies to establish an emergency epidemic fund.

Associated Press: Ebola countries to get $450 million in financing
“…The International Finance Corporation, which is part of the World Bank Group, announced that the package will include $250 million in rapid response projects and at least $200 million in investment projects to support the economic recovery of Liberia, Sierra Leone, and Guinea after the Ebola outbreak is controlled…” (Lederer, 11/5).

Reuters: World Bank brings Ebola funding to nearly $1 billion
“…The announcement from the bank’s International Finance Corporation (IFC) brings total World Bank commitments for Ebola to nearly $1 billion in the past three months, an unprecedented rapid response for a development institution that has been accused of dragging its feet on project approval in the past…” (Yukhananov, 11/5).

U.N. News Centre: U.N. warns of economic hardship in Ebola-hit countries as World Bank agrees finance package
“…The announcement by the IFC/World Bank Group also noted that if the virus continues to surge in the three worst-affected countries and spreads to neighboring States, the two-year regional financial impact could reach $32.6 billion by the end of 2015…” (11/5).

Xinhua News: World Bank to launch emergency fund to combat Ebola
“The World Bank is working with the International Monetary Fund, the United Nations, and other multilevel developing banks to create an ‘epidemic emergency fund’ to fight against Ebola and other epidemics in future, World Bank President Jim Yong Kim said here on Tuesday…” (11/4).

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