World Bank set to give three African countries US$650 mil.
The World Bank announced Friday that it will give three West African countries at least US$650 million over the next 12 to 18 months to help them recover from the devastating effects of Ebola.
The donation, brings the organization’s total financing for Ebola response and recovery to US$1.62 billion, is part of a broader effort to help Guinea, Liberia and Sierra Leone eradicate the disease and recover from its devastation.
Bank President Jim Yong Kim announced the new funding at a meeting with U.N. SecretaryGeneral Ban Ki-moon, Guinean President Alpha Conde, Liberian President Ellen Johnson Sirleaf and Sierra Leonean President Ernest Bai Koroma, who presented their Ebola recovery plans to global development leaders.
The U.N. chief said he would convene a pledging conference in July to help provide the funds these countries need to pay for the recovery. The World Bank estimates GDP losses from Ebola totaling US$240 million for Liberia, US$535 million for Guinea and US$1.4 billion for Sierra Leone.
Johnson Sirleaf, speaking for her fellow presidents, said they hope to obtain up to US$8 billion for a recovery fund for projects the three countries have developed together. She said the three leaders were encouraged by what they heard at the meeting.