The World Bank on Thursday announced that the global community has stepped up with a $93 billion support package to boost resilient recovery in the world’s poorest countries. In his reaction, the World Bank Group President, David Malpass said: “Today’s generous commitment by our partners is a critical step toward supporting poor countries in their efforts to recover from the COVID-19 crisis. About a third of IDA countries are facing a looming food crisis”, the World Bank said. “IDA will also deepen support to countries to better prepare for future crises, including pandemics, financial shocks, and natural hazards. “While IDA20 will support countries globally, resources are increasingly benefiting Africa, which will receive about 70 percent of the funding.

Source: Nigerian Tribune December 16, 2021 15:43 UTC