Pacific Genesis Report Shows Multilateral Development Banks deploy over $214 billion in response to countries affected by COVID-19
NEWPORT BEACH, Calif., June 2, 2020 /PRNewswire/ -- The five Multilateral Development Banks (MDBs) have committed over $214 Billion to combat COVID-19 in emerging markets. Over the next 15 months, MDBs are providing grants and loans to support and purchase medical equipment and supplies, personal protective equipment, IT healthcare systems, development or upgrading of hospital facilities and supporting agencies and businesses. Funding from the global financing institutions include:
-- The World Bank - $150 billion
-- The Inter-American Development Bank -$12 billion
-- Asian Development Bank - $20 billion
-- African Development Bank - $10 billion
-- European Bank for Reconstruction & Development - $22 billion
Research by Pacific Genesis, an international research and business development firm, highlights a few funding programs funded by the World Bank:
Africa: $82 million, Ethiopia critical needs for preparedness and response, including the provision of medical equipment, health system capacity-building, stablish treatment centers. Democratic Republic of Congo, $47 million to support containment strategies, train medical staff and provide equipment to ensure rapid case detection and contact tracing.
East Asia and the Pacific: Mongolia, $26.9 million will provide training for emergency care doctors, nurses, and paramedics; purchase medical and laboratory equipment and supplies; rehabilitate health care facilities. Cambodia, $20 million will establish laboratories, isolation and treatment centers in 25 provincial hospitals and equip them with essential medical and testing supplies.
Europe and Central Asia: Tajikistan, $11.3 million to expand intensive care capacity through equipment, supplies, and training. Kyrgyz Republic, $12.15 million will boost capacity of rapid-response teams, hospitals and laboratories by providing medical and laboratory supplies, ICU equipment, and preparedness funds for hospitals.
Latin America and Caribbean: Haiti, $20 million IDA grant with support to minimize COVID-19 transmission through testing, early detection and rapid response teams. Ecuador, $20 million to finance medical supplies, equip intensive care units and isolation rooms.
Middle East and North Africa: $26.9 million in partnership with the WHO to help Yemen limit the spread and mitigate risks. World Bank is also supporting implementation of Djibouti's Preparedness Plan with $5 million.
Pacific Genesis
Pacific Genesis is a leader in assisting firms to identify, strategize and tapping into the billions of dollars of procurement, funded every year by the international financing institutions.
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SOURCE Pacific Genesis
