Finance World News

World Bank avails $545m in support of storm-hit Mozambique, Malawi, Zimbabwe

Xinhua/TBI Africa.com) The World Bank (WB), on Friday disclosed a 545 million U.S. dollars donation to help people in Mozambique, Malawi, and Zimbabwe that have been affected by Cyclone Idai.

This is in addition to nearly 150 million dollars in resources that the WB recently availed to the three countries.

“The World Bank is activating the International Development Association (IDA) Crisis Response Window (CRW) to provide up to 545 million dollars in total for the three affected countries.

“Together, total World Bank support to the three countries’ recovery reaches around 700 million dollars.

“The World Bank is also working with Mozambique and Comoros to assess and respond to the newest development Cyclone Kenneth,’’ the bank said in a statement.

Mozambique is the country hardest hit by the cyclone.

It will receive 350 million dollars in CRW financing to re-establish water supply, rebuild damaged public infrastructure and crops, and support disease prevention, food security, social protection, and early warning systems in the impacted communities.

In Malawi, the CRW will provide 120 million dollars to restore agricultural livelihoods reconstruct priority infrastructure and support disease surveillance.

In addition, the World Bank intends to provide an exceptional allocation of up to 75 million dollars to support the people of Zimbabwe also affected by Cyclone Idai, the WB said.

Cyclone Idai killed over a thousand people and destroyed vast infrastructure in the three countries.

While still smarting from the devastating effects of Cyclone Idai, Mozambique was again hit by Cyclone Kenneth earlier which has killed at least 38 people and further inflicted damage on public infrastructure.

 

 

Related posts

N4.4trn debt: Some prominent Nigerians delaying AMCON’s recovery effort – Senate

Abisola THOMPSON

States’ cash cruch: Govs beg FG to postpone $2.1bn support repayment, CBN kicks

Our Reporter

Arresting naira’s depreciation

Our Reporter

Housing Deficit: FMBN, Brekete Family set to create more awareness on housing products

By Aliyu DANLADI

Forex restriction: Nigeria spends $6.1bn yearly on wheat importation – WFAN

Shile GIWA

MPC: CBN to maintain status quo — Experts

Editor