Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2023
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US
Commonwealth Business Communications
Commonwealth Business Communications
  • HOME
  • ABOUT
  • COUNTRIES
    • AFRICA
      • BOTSWANA
      • CAMEROON
      • GAMBIA
      • GHANA
      • KENYA
      • KINGDOM OF eSWATINI
      • LESOTHO
      • MALAWI
      • MAURITIUS
      • MOZAMBIQUE
      • NAMIBIA
      • NIGERIA
      • RWANDA
      • SEYCHELLES
      • SIERRA LEONE
      • SOUTH AFRICA
      • TANZANIA
      • UGANDA
      • ZAMBIA
    • ASIA
      • BANGLADESH
      • BRUNEI DARUSSALAM
      • INDIA
      • MALAYSIA
      • MALDIVES
      • PAKISTAN
      • SINGAPORE
      • SRI LANKA
    • CARIBBEAN AND AMERICAS
      • ANTIGUA AND BARBUDA
      • BAHAMAS
      • BARBADOS
      • BELIZE
      • CANADA
      • DOMINICA
      • GRENADA
      • GUYANA
      • JAMAICA
      • SAINT LUCIA
      • ST KITTS AND NEVIS
      • ST VINCENT AND THE GRENADINES
      • TRINIDAD AND TOBAGO
    • EUROPE
      • CYPRUS
      • MALTA
      • UNITED KINGDOM
    • PACIFIC
      • AUSTRALIA
      • FIJI
      • KIRIBATI
      • NAURU
      • NEW ZEALAND
      • PAPUA NEW GUINEA
      • SAMOA
      • SOLOMON ISLANDS
      • TONGA
      • TUVALU
      • VANUATU
  • AREAS OF WORK
    • GOVERNMENT
    • EDUCATION
    • HEALTH
    • ICT
    • INFRASTRUCTURE DEVELOPMENT
    • NATURAL RESOURCES
    • SUSTAINABLE DEVELOPMENT GOALS
    • TRADE AND INVESTMENT
  • OUR PUBLICATIONS
    • CHOGM
      • COMMONWEALTH HEADS OF GOVERNMENT INTERIM REPORT 2020
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2018 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2015 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2011 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2009 REPORT
      • THE COMMONWEALTH HEADS OF GOVERNMENT MEETING 2007 REPORT
    • HEALTH
      • COMMONWEALTH HEALTH REPORT 2022
      • COMMONWEALTH HEALTH REPORT 2020
    • EDUCATION
      • COMMONWEALTH EDUCATION REPORT 2023
      • COMMONWEALTH EDUCATION REPORT 2021
      • COMMONWEALTH EDUCATION REPORT 2019
    • MINISTERS
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2017
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2015
      • MINISTERS REFERENCE BOOK COMMONWEALTH 2014
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2011
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2010
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2009
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2008
      • COMMONWEALTH MINISTERS REFERENCE BOOK 2007
    • FINANCE
      • COMMONWEALTH FINANCE MINISTERS REPORT 2012
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2010
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2009
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2008
      • COMMONWEALTH FINANCE MINISTERS REFERENCE REPORT 2007
    • TRADE AND INVESTMENT
      • AFRICA INFRASTRUCTURE INVESTMENT REPORT 2013
    • QUEEN AND COMMONWEALTH
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S PLATINUM JUBILEE
      • QUEEN & COMMONWEALTH: 90 GLORIOUS YEARS
      • QUEEN & COMMONWEALTH: CELEBRATING HER MAJESTY’S DIAMOND JUBILEE
  • CONTRIBUTORS
  • CONTACT US

SOUTH AFRICA’S COVID-19 RESPONSE GETS BOOST

  • CBC News Team
Total
0
Shares
0
0
0

The World Bank has approved South Africa’s request for a $750 million development policy loan. This loan will support the Government of South Africa’s efforts to accelerate its COVID-19 response aimed at protecting the poor and vulnerable from the adverse socio-economic impacts of the pandemic and supporting a resilient and sustainable economic recovery.  

The loan supports the implementation of South Africa’s Economic Reconstruction and Recovery Plan (ERRP) and is well aligned with the World Bank’s Crisis Response Approach aimed at protecting lives, livelihoods and supporting a more inclusive and resilient growth path. It reflects priorities to modernise the country’s social protection and health services and to improve delivery systems which will apply even beyond the pandemic. It also enhances financial sector stability, specifically the establishment of a deposit insurance scheme. It further supports South Africa’s commitment to climate change. 

“The World Bank budget support is coming at a critical time for us and will contribute towards addressing the financing gap stemming from additional spending in response to the COVID-19 crisis,” said Dondo Mogajane, Director General of National Treasury of South Africa.

“It will assist in addressing the immediate challenge of financing critical health and social safety net programmes whilst also continuing to develop our economic reform agenda to build back better.”  

The funding is a low interest loan that contributes to the government’s fiscal relief package while reinforcing South Africa’s decisions on how best to provide relief to the economy and those worst affected by the current crisis. The loan complements support by the International Monetary Fund, the African Development Bank, and the New Development Bank as part of the Government of South Africa’s broader financing strategy to access external financing from international financial institutions.  

“With this DPL, we have partnered with the government to provide much needed relief from the impacts of the most serious economic crisis South Africa has experienced in the past 90 years, while tackling long-standing challenges to growth and development. This support aims to put the country on a more resilient and inclusive growth path by leveraging South Africa’s strength to mitigate the effects of the COVID-19 crisis through their strong social safety net and by advancing critical economic reforms,” said Marie Françoise Marie Nelly, World Bank Country Director for South Africa.

“This financing builds on our new World Bank Group Country Partnership Framework (CPF)  2022 – 2026, jointly developed with the government in July 2021, to help stimulate investment and job creation.” 

As the second largest economy in Africa, South Africa’s economic performance has spill over effects on other countries in the region. Its recovery and successful economic development will provide an economic boost to the whole region. 

World Bank Group COVID-19 Response 

Since the start of the COVID-19 pandemic, the World Bank Group has deployed over $157 billion to fight the health, economic, and social impacts of the pandemic, the fastest and largest crisis response in its history. The financing is helping more than 100 countries strengthen pandemic preparedness, protect the poor and jobs, and jump start a climate-friendly recovery. The Bank is also supporting over 50 low- and middle-income countries, more than half of which are in Africa, with the purchase and deployment of COVID-19 vaccines and is making available $20 billion in financing for this purpose until the end of 2022.

Learn More: World Bank in South Africa

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
Related Topics
  • COVID-19
  • AFRICA HEALTH
CBC News Team

Previous Article

TECH START-UPS KEY TO AFRICA’S DIGITAL TRANSFORMATION

  • CBC News Team
Read More
Next Article

NEW ZEALAND: CHANGING THE CONVERSATION ON WELLBEING

  • CBC News Team
Read More
You May Also Like
HE Dr Madeleine Tchuinte, Minister of Scientific Research and Innovation, and Mr Hua Liu, IAEA Deputy Director General and Head of the Department of Technical Cooperation, signed Cameroon’s Country Programme Framework (CPF) for the period of 2024-2029. (Photo: J. O'Brien/ IAEA)
Read More
  • Infrastructure Development
  • CAMEROON

Cameroon Signs its Country Programme Framework (CPF) for 2024-2029

  • CBC News Team
  • 29 September 2023
Manutius human rights webinar
Read More
  • Equality
  • Heads of Government
  • MAURITIUS

Commonwealth and Mauritian Government host webinar to help businesses protect human rights

  • CBC News Team
  • 28 September 2023
Ministry of Health Kenya WHO National Multi-Hazard Preparedness Plan Workshop
Read More
  • Health
  • HEALTH
  • KENYA

Kenya: Ministry of Health partners with WHO to conclude National Multi-Hazard Preparedness Plan Workshop

  • CBC News Team
  • 27 September 2023
Close up on Mosquito. Mosquito-borne disease Dengue outbreak in Jamaica
Read More
  • Health
  • GOVERNMENT
  • HEALTH
  • JAMAICA

Jamaican Health Ministry declares dengue outbreak

  • CBC News Team
  • 26 September 2023
Kenyan President during During the unveiling of kits to the 100,000 Community Health Promoters to the 47 County Governments at Uhuru Park, Nairobi County.
Read More
  • HEALTH
  • KENYA

Kenyan president Ruto to launch Community Health Promoters Kit to counties

  • CBC News Team
  • 25 September 2023
African leaders show the “gap” during the campaign launch in the United Nations HQ. (Centre left) H.E. Macky Sall, President of the Republic of Senegal; (Second from left) H.E. Jakaya Kikwete, Former President of the United Republic of Tanzania; (Centre) H.E. Josefa Sacko, African Union Commissioner, ARBE; (Centre left) Harsen Nyambe, Director: Blue Economy and Sustainable Environment at the African Union; (Second from left) Nardos Bekele-Thomas, CEO of AUDA-NEPAD; (Right) Hon. Carl Schlettwein, Minister of Agriculture, Water, & Forestry, Namibia; (Left) Alex Simalabwi, Executive Director: High-Level Panel Secretariat
Read More
  • Agriculture
  • Natural Resources
  • Environment & Sustainability
  • AFRICA
  • SUSTAINABLE DEVELOPMENT GOALS

African Leaders commit to Mind the Gap – Invest in Water as the race to achieve SDG 6 in Africa accelerates

  • CBC News Team
  • 25 September 2023
Gabon suspended from Commonwealth. Gabon and Commonwealth Flags fly over building.
Read More
  • Other
  • GABON

Gabon partially suspended from the Commonwealth pending restoration of democracy

  • CBC News Team
  • 21 September 2023
Read More
  • Health
  • BOTSWANA
  • HEALTH

Botswana’s investment in primary health care enhances access and quality of health care in the country

  • CBC News Team
  • 20 September 2023
OUR LATEST PUBLICATION
Commonwealth Education Report 2023
EDUCATION 23

Subscribe to our Newsletter

PARTNER FOCUS
Recent Posts
  • HE Dr Madeleine Tchuinte, Minister of Scientific Research and Innovation, and Mr Hua Liu, IAEA Deputy Director General and Head of the Department of Technical Cooperation, signed Cameroon’s Country Programme Framework (CPF) for the period of 2024-2029. (Photo: J. O'Brien/ IAEA)
    Cameroon Signs its Country Programme Framework (CPF) for 2024-2029
  • Manutius human rights webinar
    Commonwealth and Mauritian Government host webinar to help businesses protect human rights
  • Pakistan floods one year on
    One year on from catastrophic floods, millions of children in Pakistan still need urgent support
  • Ministry of Health Kenya WHO National Multi-Hazard Preparedness Plan Workshop
    Kenya: Ministry of Health partners with WHO to conclude National Multi-Hazard Preparedness Plan Workshop

Subscribe

Subscribe now to our newsletter

Commonwealth Business Communications
  • HOME
  • About
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2022 Commonwealth Business Communications Limited. All Rights Reserved.

Input your search keywords and press Enter.