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World Bank provides $ 3 million to Armenia for fight against coronavirus

The World Bank is providing $ 3 million to Armenia to meet the urgent need for equipment and supplies needed for intensive care for people with confirmed coronavirus.

“In response to the rapid spread of COVID-19 in the world and more recently in Armenia, the World Bank supports the Government of Armenia's efforts to protect the population during the outbreak of coronavirus.”

At the request of the Ministry of Health of the Republic of Armenia, the World Bank has allocated $ 3 million to Armenia to meet the urgent need for equipment and supplies needed for intensive care for people with confirmed coronavirus. These funds will help purchase 50 lung aeration devices under the current Disease Prevention and Control program for $ 1.35 million. The purchase will be made through the World Bank's accelerated emergency procedures. Due to the narrow expertise of the World Bank, a fast market analysis has been carried out to reduce the global supply of medical supplies and ensure the value-for-money principle in the face of rising prices. As a result, the Armenian healthcare system will be equipped with additional high-quality devices needed to treat confirmed cases of increased coronavirus disease.

"In this current situation, the Bank is ready to support Armenia's response to mitigate the global impact," said World Bank Armenia Country Manager Silvi Bosutgjo. “I would like to raise the unprecedented dedication of Armenian health care providers in support of the population. I also urge all citizens of Armenia to strictly follow the rules of the state of emergency and maintain social distance and implement isolation measures aimed at minimizing the impact of the epidemic."

The same approach will be applied in the process of acquiring additional ventilation equipment as well as personal protective equipment to meet urgent health needs. 

In addition, the World Bank is ready to reprogram its current portfolio of programs in Armenia to support the efforts of the Armenian Government to counter COVID-19 in various areas. The World Bank's financial and technical assistance is closely coordinated with that of other international organizations and development finance institutions. In particular, the abovementioned equipment will be procured directly through the United Nations agency supply pipelines, taking into account the constraints on offshore equipment in the global market. 

The World Bank Group is launching a $ 14 billion Rapid Response Package to boost response to COVID-19 in developing countries and reduce the pace of recovery. Immediate response includes funding, policy advice and technical assistance to help countries cope with the global health and economic impacts. The International Finance Corporation (IFC) is providing $ 8 billion in funding to support privately-held corporations and jobs. The International Bank for Reconstruction and Development and the International Development Association (IBRD and IDA) are allocating an initial $ 6 billion for health response. As countries need broader support, the World Bank Group will invest $ 160 billion over 15 months to protect the poor and vulnerable, support businesses and support the recovery of the economy," the statement said.