{"id":57442,"date":"2020-07-21T04:53:53","date_gmt":"2020-07-21T02:53:53","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=57442"},"modified":"2020-07-21T04:53:53","modified_gmt":"2020-07-21T02:53:53","slug":"world-bank-allocates-400m-to-back-egypts-universal-health-coverage","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/world-bank-allocates-400m-to-back-egypts-universal-health-coverage\/","title":{"rendered":"World Bank allocates $ 400m to back Egypt\u2019s universal health coverage"},"content":{"rendered":"

The World Bank<\/a> allocated $ 400 million to support Egypt\u2019s transformational Universal Health Insurance System as the country\u2019s pathway toward achieving universal health coverage and improving the health outcomes of its citizens.<\/p>\n

This was part of the bank\u2019s new commitments over the fiscal year, which ended on June 30, in the MENA region.<\/p>\n

These commitments included\u00a0$3.4 billion\u00a0<\/strong>from the International Bank for Reconstruction and Development<\/a>, which supports development in middle-income countries; and\u00a0$202.9 million\u00a0from the\u00a0International Development Association, the Bank\u2019s fund for the world\u2019s poorest countries. In addition, there were\u00a0$103 million\u00a0in new committed grants for the West Bank and Gaza.<\/p>\n

The World Bank responded to dual economic shocks caused by the COVID-19 pandemic and the subsequent collapse in oil prices with strong lending, technical assistance and global expertise throughout the Middle East and North Africa. These shocks came on the heels of growing unrest and fragility in some countries, which were causing reversals in economic and social gains.<\/p>\n

“The severe human and economic damage from the COVID-19 pandemic, combined with historic drops in global oil prices and fragility and conflict in a number of countries, threaten many of the hard-fought development gains in the MENA region in recent years,” said\u00a0Ferid Belhaj, World Bank Vice President for the Middle East and North Africa. “It is precisely in times like these that the World Bank must play an indispensable role to support not only social and economic development \u2014 with a focus on youth and human capital \u2014 but also regional and global stability. We remain committed to our mission \u2014 to respond swiftly and forcefully to countries\u2019 requests for emergency support and to continuing the medium- and long-term project of realizing MENA\u2019s promise in the years to come.”<\/p>\n

How the World Bank backed other regional states:<\/h4>\n

Guided by the enlarged MENA regional strategy, the World Bank approved 22 new operations during the previous financial year.<\/p>\n

Within this context, the World Bank mobilized technical and financial resources to help Jordan face the multi-faceted impact of the COVID-19 outbreak through new projects, including a $350 million Emergency Cash Transfer COVID-19 Response Project to provide cash support to poor and vulnerable households affected by the pandemic.<\/p>\n

In Morocco, a $500 million First Financial and Digital Inclusion Development Policy Financing (DPF) project will support transversal reforms and promote digital transformation and greater financial inclusion<\/p>\n

In\u00a0Tunisia, a reform platform to help respond to the COVID-19 crisis is part of an international support package coordinated with macro-financial assistance from the European Union. The financing package, which includes contributions from several international financial institutions, will amount to $600-700 million in 2020. The World Bank approved a $175 million Development Policy Financing operation to support the reform package.<\/p>\n

As the COVID-19 pandemic widely spread through MENA, the World Bank quickly surged support to help blunt severe health and economic damage. The immediate response included financing, policy advice, and technical assistance to help countries cope with the urgent health needs of the pandemic and slow the spread of the disease. Financing across the region, from emergency response components and a fast-track package for new projects, was part of the World Bank Group\u2019s Fast Track COVID-19\u00a0 Facility\u00a0\u2014 a global effort to help strengthen the COVID-19 response in developing countries.<\/p>\n

The COVID-19 emergency projects, which focus on the most acute needs to help MENA countries address the pandemic, are only the latest projects in the World Bank\u2019s long focus on health, education, and building human capital throughout the region. As part of the Human Capital Project, which was launched in 2018, the Bank is helping countries identify game-changing areas, make foundational investments, and accelerate progress in building human capital. World Bank research estimates that GDP per worker in MENA could be two times higher if children today achieved complete health and education.<\/p>\n

The COVID-19 pandemic was far from the only crisis facing the MENA region. The World Bank provided a $6 million IDA credit to Djibouti and a $25 million IDA grant to Yemen to address the threat posed by large desert locust outbreaks and strengthen the countries\u2019 preparedness systems.<\/p>\n

The bank also continued its long focus on delivering a range of analytical products to support evidence-based policies and coordinate approaches to the MENA region\u2019s development challenges. The latest\u00a0Regional Economic Update\u00a0examined how transparency about critical economic issues \u2014 such as public debt and employment \u2014 can drive growth and enhance trust in government in the region.<\/p>\n

During the financial year, four MENA countries were among the top 10 improvers in the World Bank\u2019s Doing Business report: Saudi Arabia, Jordan, Bahrain, and Kuwait. These countries account for almost half of the region\u2019s reforms. The United Arab Emirates remained the strongest performer overall in the region, placing 16th (out of 190) on the ease of doing business rankings. The bank is focused on helping countries enact reforms that focus on transparency, fair competition, and good governance to make MENA open for business and attract investments needed to create jobs for youth and women.<\/p>\n

The World Bank currently has a portfolio totaling approximately $20 billion\u00a0in the MENA region. The portfolio covers a diverse range of sectors such as agriculture, energy, education, the environment, health, social protection, trade and transportation.<\/p>\n

\n

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The World Bank allocated $ 400 million to support Egypt\u2019s transformational Universal Health Insurance System as the country\u2019s pathway toward achieving universal health coverage and improving the health outcomes of its citizens. This was part of the bank\u2019s new commitments over the fiscal year, which ended on June 30, in the MENA region. These commitments […]<\/p>\n","protected":false},"author":410,"featured_media":57443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6294,6031,984],"tags":[6430,6463,6739],"yoast_head":"\nWorld Bank allocates $ 400m to back Egypt\u2019s universal health coverage - Csr Egypt<\/title>\n<meta name=\"description\" content=\"The World Bank allocated $ 400 million to support Egypt\u2019s transformational Universal Health Insurance System and improving the health\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/world-bank-allocates-400m-to-back-egypts-universal-health-coverage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank allocates $ 400m to back Egypt\u2019s 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