WASHINGTON, June 5, 2020 –The World Bank today approved $147.95 million in financing, of which half is in grant and the other half in credit from the International Development Association (IDA)*, for the Second Fiscal Management, Sustainable Growth and Health Service Delivery, Development Policy Financing (DPF).
This operation, the second in a programmatic series of three DPFs, will support the reforms proposed under the Government’s 2016-2020 National Development Plan (PNDES) and contribute to strengthening the COVID-19 emergency response. It aims to improve revenue mobilization and efficiency of public spending; enhance the health system and social services; as well as improve productivity and reduce environmental impacts in mining and livestock sectors in the country.
“This program will be critical to help mitigate the health and economic impacts of the COVID-19 crisis. Through the DPF, the World Bank is helping to strengthen Burkina Faso’s resilience as it faces hard economic, security, humanitarian and now health shocks,” said Maimouna M. Fam, World Bank Country Manager in Burkina Faso.
This operation is part of the World Bank COVID-19 strategy which focuses on saving lives, protecting livelihoods and securing the future and the long-term recovery. It also focuses on protecting the most vulnerable through different channels.
“This financing complements a recently approved emergency health project that is supporting the government’s efforts to prevent, detect and respond to the threat posed by COVID-19. This DPF will help strengthen national systems for public health preparedness and safety net efficiency by redeploying health professionals across the country, improving the distribution of medicines and medical supplies in COVID-19-affected areas,” said Jose R. Lopez-Calix and Abdoul Ganiou Mijiyawa, Task Team Leaders for this operation.
World Bank Group COVID-19 Response
The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. We are supporting public health interventions, working to ensure the flow of critical supplies and equipment, and helping the private sector continue to operate and sustain jobs. We will be deploying up to $160 billion in financial support over 15 months to help more than 100 countries protect the poor and vulnerable, support businesses, and bolster economic recovery. This includes $50 billion of new IDA resources through grants and highly concessional loans
* The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.5 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries. Annual commitments have averaged about $18 billion over the last three years, with about 54 percent going to Africa.