The World Bank is working with the countries of the Middle East and North Africa (MENA) to help them cope with the health emergency linked to the Covid-19 pandemic.
The World Bank Group’s new fast-track financing mechanism – a global initiative to strengthen the response to the coronavirus pandemic in developing countries – will allocate funding to the MENA region, leveraging the components of emergency intervention of existing projects and authorizing rapid implementation procedures for new projects.
With this immediate response, which consists of providing advice, technical assistance and funding, it is about helping countries cope with the pandemic-related health emergency and slow the spread of the virus.
For Morocco, the World Bank has restructured a $ 275 million loan to support development policies for disaster risk management, with a deferred drawdown option in the event of a disaster ( or Cat DDO).
The restructuring incorporates a health aid objective to allow immediate release of funds under the program and respond to emergency measures.
Source: World Bank, “The World Bank is strengthening its support to enable the Middle East and North Africa to face the coronavirus pandemic”, Press release, Apr. 2, 2020: https: //www.worldbank .org / en / news / press-release / 2020/04/02 / world-bank-surges-support-to-address-coronavirus-covid-19-outbreak-in-the-middle-east-and-north-africa