IDA is one of the largest funding sources for fighting extreme poverty in the world’s lowest-income countries. Africa is the continent with the most beneficiaries having 39 countries on the list.
Ivorian President Alassane Ouattara said, “Much remains to be done to overcome this crisis which, as we are seeing these days, is global with several cycles. Indeed, less than 3% of the total population of Africa has received a first dose of vaccines compared to about 54% in the US and the EU.”
Ouattara noted that this $100 billion “would be the largest amount raised in IDA’s history.” The previous was $82 billion.
Chairman of the AU Commission, Moussa Faki, called for debt restructuring. He said the restructuring was essential.
“We will never tire of calling for urgent debt restructuring accompanied by a bold policy that goes beyond special entitlements to alleviate the pressing need for immediate cash for vaccine purchases and to lay the foundations for economic recovery.”
Meanwhile, the World Bank said that as African countries face the adverse effect of the Covid-19 pandemic, there must be continuous support, especially from IDA, to meet financing needs.
IDA is one of the largest funding sources for fighting extreme poverty in the world’s lowest-income countries. Africa is the continent with the most beneficiaries having 39 countries on the list.
Ivorian President Alassane Ouattara said, “Much remains to be done to overcome this crisis which, as we are seeing these days, is global with several cycles. Indeed, less than 3% of the total population of Africa has received a first dose of vaccines compared to about 54% in the US and the EU.”
Ouattara noted that this $100 billion “would be the largest amount raised in IDA’s history.” The previous was $82 billion.
Chairman of the AU Commission, Moussa Faki, called for debt restructuring. He said the restructuring was essential.
“We will never tire of calling for urgent debt restructuring accompanied by a bold policy that goes beyond special entitlements to alleviate the pressing need for immediate cash for vaccine purchases and to lay the foundations for economic recovery.”
Meanwhile, the World Bank said that as African countries face the adverse effect of the Covid-19 pandemic, there must be continuous support, especially from IDA, to meet financing needs.
