COVID-19: Nigeria may go into severe recession - World Bank

World Bank releases $82 million to support Nigerian public health response

The World Bank Group has released $82 million to strengthening the public health response through the Regional Disease Surveillance System Enhancement Project (REDISSE).

The bank made this known in a statement released in Abuja on Tuesday.

The bank explained that in addition, it had been asked to provide a multi-pronged package of support over the next six months to strengthen the country’s preparedness for the immediate health crisis.

This indicates that the banks would provide Federal Government with budget support for a pro-poor stimulus package and the long term recovery.

“Efforts to protect livelihoods and support local economic activities over the next 18 to 24 months will be critical in mitigating the economic and human impact of the COVID-19 pandemic.

Together with partners, the bank is discussing with the states and relevant federal agencies how best to protect livelihoods of poor and vulnerable families.

The move also include provisioning of support to Micro, Small and Medium Enterprises to enable recovery.

“Through the REDISSE project, about $10.6 million has already been committed to support the Nigeria Centre for Disease Control.

“This, is to strengthening states’ emergency operation centre, building, renovating and providing equipment for treatment centres across eight states.

“As well as bringing in essential medical supplies and drugs, testing kits, Personal Protective Equipment for frontline health workers,” the bank said.

World Bank releases $82 million to support Nigerian public health response