Zimbabwe gets a coronavirus lifeline from the World Bank
INTERNATIONAL – Zimbabwe will get $7 million from the World Bank to fight the coronavirus pandemic despite being in arrears with the Washington-based lender.
The lender will mobilize $5 million from its Global Financing Facility Trust Fund to support the nation’s health response to the outbreak and redirect about $2 million from its ongoing Zimbabwe Idai Recovery Project to support affected communities, a World Bank spokesperson said in an emailed response to questions.
The support will come from the bank’s trust funds and partners because Zimbabwe isn’t current on its debt-service obligations with the institution and therefore can’t access funds through its regular financing channels, the lender said.
Source: iol.co.za