The World Bank approves $26.9 million for Mongolia’s COVID-19 emergency responseEconomy
Ulaanbaatar /MONTSAME/. On April 2, The World Bank’s Board of Executive Directors approved $26.9 million for the Mongolia COVID-19 Emergency Response and Health System Preparedness Project to meet emergency needs in the face of the pandemic and to better prepare for future health crises.
The project will address the immediate needs in response to COVID-19 such as training for emergency care doctors, nurses and paramedical staff; purchase of medical and laboratory equipment and supplies as well as build COVID-19 diagnostic capacity in Ulaanbaatar and all provinces. It will also rehabilitate health facilities; institute infection control measures and training across health facilities; and support public health information and communication campaigns for disease prevention and management.
Although community transmission has not been reported in Mongolia, the country remains at high risk for COVID-19 outbreak spread. The government has made addressing the COVID-19 pandemic an immediate priority.
“The global COVID-19 pandemic clearly calls for strengthening the preparedness and resilience of health systems to respond to such crisis situations,” said Andrei Mikhnev, World Bank Country Manager for Mongolia. “This emergency operation will not only provide immediate support to address the COVID-19 pandemic, but will also benefit Mongolia’s health sector in the longer term to become more resilient to future health emergencies.”
The project funding comprises a US$13.1 million credit from the International Development Association (IDA) and a $13.8 million credit from the International Bank for Reconstruction and Development (IBRD), allocated as part of the World Bank Group’s $14 billion COVID-19 fast-track financing package. Retroactive financing up to US$4.2 million of the total amount will be available for eligible expenditures incurred by the government from January 1, 2020.
World Bank Group COVID-19 Response
The World Bank Group is rolling out a $14 billion fast-track package to strengthen the COVID-19 response in developing countries and shorten the time to recovery. The immediate response includes financing, policy advice, and technical assistance to help countries cope with the health and economic impacts of the pandemic. The IFC is providing $8 billion in financing to help private companies affected by the pandemic and preserve jobs. IBRD and IDA are making an initial US$6 billion available for the health response. As countries need broader support, the World Bank Group will deploy up to $160 billion over 15 months to protect the poor and vulnerable, support businesses, and bolster economic recovery.