The World Bank expects to support 50 poorest nations with $4 billion of financing by the middle of this year to fund the purchase and distribution of Covid-19 vaccines and strengthen their healthcare systems.
The Washington-based multilateral lender has approved $2bn in financing for 17 countries, it said in a statement on Wednesday. Funding packages to developing countries, reeling from the economic shock of the pandemic, are being disbursed on “grant or highly concessional terms”.
“Access to vaccines is key to altering the course of the pandemic and helping countries move toward a resilient recovery,” David Malpass, World Bank president, said. “Our programmes are helping developing countries respond to the health emergency and have financing available for vaccines.”
The financing is part of the World Bank’s $12bn funding envelope over 24 months to help the developing countries acquire and distribute vaccines.
An accelerated pace of vaccine roll out has helped many economies gradually resume economic activity and also led the International Monetary Fund to upgrade its global growth forecast to 6 per cent for 2021 in its World Economic Outlook this month. However, the IMF has urged greater co-operation to ensure affordable vaccines are distributed to all countries to control the pandemic.
The World Bank's vaccine finance package is designed to be flexible and can be used by countries to procure doses through Covax – the vaccine pillar of global collaboration to accelerate the development, production and access to Covid-19 tests and treatments – or through other sources.
The funding can also be used to strengthen health systems, including buying medical supplies, personal protective equipment, vaccine cold-chains, training health workers, outreach campaigns to key stakeholders which are key to ensure vaccination acceptance, the lender said.
The $2bn approved so far has supported mass inoculation programmes in Afghanistan, Bangladesh, Cabo Verde, Cote d’Ivoire, Ecuador, El Salvador, Eswatini, Ethiopia, the Gambia, Honduras, Lebanon, Mongolia, Nepal, Philippines, Rwanda, Tajikistan and Tunisia.
“As the world attempts to carry out the largest vaccination effort in history, we have stressed the need for countries with excess vaccine supplies to release them as soon as possible, and for financing commitments to Covax to be encashed,” Mr Malpass said.
Although the outlook of the world economy has brightened on the back of a faster-than-expected bounce back in some developed economies and mass inoculation programmes, the recovery is uneven and less pronounced in the developing world.
Finances of debt-laden poor nations are already stretched, leaving them little room to rebuild their economies or strengthen their crumbling healthcare systems.
Both the IMF and the World Bank have extended concessional loans and grants to these countries to help them deal with the pandemic.
Earlier this month, the IMF said it is extending $238m of debt service relief for 28 of the world's poorest countries, allowing them to conserve funds for pandemic mitigation measures.
Access to vaccines is key to altering the course of the pandemic and helping countries move toward a resilient recovery
The group of world's 20 largest industrialised nations last year also agreed on a framework to restructure government debt to help poorer countries divert their finances to mitigate the economic impact of the coronavirus pandemic. Both the IMF and the World Bank have urged the G20 to further extend its Debt Service Suspension Initiative till next year. The move will allow 73 eligible countries to deploy more cash to fight the pandemic.
The World Bank on Wednesday said its private sector development arm, the International Finance Corporation, is also deploying $4bn through its health platform to increase the supply and local production of essential PPE in developing countries and unlock bottlenecks in emerging markets, particularly in medical equipment and vaccines.
The World Bank is also working with governments and international partners to assess the readiness of more than 140 developing countries to distribute vaccines. While 85 per cent of countries have developed national vaccination plans, only 30 per cent have plans to train the number of vaccinators needed and 27 per cent have put public engagement strategies in place to address vaccine hesitancy, the World Bank’s initial findings show.
“To get a vaccine into someone’s arm, there is a whole system of interdependent actions that needs to function properly,” said Axel van Trotsenburg, managing director of operations at the World Bank, said. “We are working together with the international community and partners to accelerate the rollout of Covid-19 … [which] are a key element in how we return to school, to work and to growth.”
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
UAE currency: the story behind the money in your pockets
How Beautiful this world is!
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
KILLING OF QASSEM SULEIMANI
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0-litre%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E400bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E563Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh320%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
More from Neighbourhood Watch:
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Schedule:
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
THE BIO
Favourite place to go to in the UAE: The desert sand dunes, just after some rain
Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude
Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE
Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally
Favourite subjects in school: Mathematics and science
Abdul Jabar Qahraman was meeting supporters in his campaign office in the southern Afghan province of Helmand when a bomb hidden under a sofa exploded on Wednesday.
The blast in the provincial capital Lashkar Gah killed the Afghan election candidate and at least another three people, Interior Minister Wais Ahmad Barmak told reporters. Another three were wounded, while three suspects were detained, he said.
The Taliban – which controls much of Helmand and has vowed to disrupt the October 20 parliamentary elections – claimed responsibility for the attack.
Mr Qahraman was at least the 10th candidate killed so far during the campaign season, and the second from Lashkar Gah this month. Another candidate, Saleh Mohammad Asikzai, was among eight people killed in a suicide attack last week. Most of the slain candidates were murdered in targeted assassinations, including Avtar Singh Khalsa, the first Afghan Sikh to run for the lower house of the parliament.
The same week the Taliban warned candidates to withdraw from the elections. On Wednesday the group issued fresh warnings, calling on educational workers to stop schools from being used as polling centres.
