THE World Bank has approved a €454.4 million (R7.6 billion) loan to South Africa for the country’s COVID-19 Emergency Response Project.
Approved by the Bank’s Group Board of Executive Directors on Monday, the loan comes following a request by the Government of South Africa for assistance in financing vaccine procurement contracts.
In a joint statement by the World Bank and the National Treasury, the entities said, specifically, this project will retroactively finance the procurement of 47 million COVID-19 vaccine doses by the GoSA.
They said: “South Africa is the epicentre of the COVID-19 pandemic in Africa, with the highest cumulative numbers of infections and deaths. By supporting the country’s COVID-19 vaccination program, the project will help the government better cope with the pandemic, as the country experiences its fifth wave, and support the GoSA to create the fiscal space needed to strengthen its health system and ensure financial and institutional
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
