The fund, according to the bank, will be in the form of a short, medium and long-term support.
Adding to the country’s emergency facility, a $65 million contingency emergency response component was triggered from the Greater Accra Resilient and Integrated Development Project (GARID).
This contingency financing will support critical activities such as laboratory equipment and chemicals, essential medical equipment and supplies including test kits and personal protection equipment.
The Breton Wood institution said this in a statement it issued and was signed by the Country Director of the Bank, Pierre Laporte.
The statement noted that the financing package includes US$35 million in emergency support to help the country provide improved response systems.
Under this emergency package, the World Bank will support the government of Ghana to help prevent, detect, and respond to the COVID-19 pandemic through the Ghana Emergency Preparedness and Response Project (EPRP).
The EPRP will help strengthen Ghana’s National Laboratories by providing robust systems for the early detection of COVID-19 cases and providing real-time disease surveillance and reporting systems of outbreaks. It will also improve response systems by providing social and financial support and free health services to COVID-19 patients and families who are isolated or quarantined.
The project is also expected to focus on risk communications and community engagement for increased awareness and compliance with prevention measures engaging the Ministry of Health, Ghana Health Service, Ministry of Information and other agencies.
“We are working with the government through this fast track facility to support the country’s efforts to slow transmission, prevent outbreaks and provide better-quality care for all patients, especially the seriously ill,” the statement said.
Adding that “It’s crucial that we all work together with other partners to help minimize the negative impact of the pandemic on health systems, social services and economic activities.”
The World Bank Group is rolling out a $14 billion fast-track package to strengthen the COVID-19 response in developing countries and shorten the time to recovery. The immediate response includes financing, policy advice and technical assistance to help countries cope with the health and economic impacts of the pandemic.
The IFC, the private sector arm of the World Bank is also providing $8 billion in financing to help private companies affected by the pandemic and preserve jobs.