Lilongwe, The World Bank on Friday announced that it has mobilised US$120 million (over K88.1 billion) in new resources to help people in the country affected by the assessed impact of Cyclone Idai.
In a statement released in Maputo, Mozambique where the cyclone hit most, the bank says it has mobilised over half a billion dollars in new resources to help people in Mozambique, Malawi, and Zimbabwe.
The World Bank is activating the International Development Association (IDA) Crisis Response Window (CRW) to provide up to $545 million [over K400.1 billion] in total for the three affected countries.
This is in addition to nearly $150 million [over K110.1 billion] in resources that have recently been made available from existing projects.
Together, total World Bank support to the three countries’ recovery reaches around $700 million [about K514 billion], reads the statement.
World Bank Group President David Malpass said after a tour of Beira’s affected areas that Cyclone Idai caused catastrophic damage that affected millions of people and that the tragedy has been compounded in Mozambique by Cyclone Kenneth.
The World Bank Group is working closely with our partners to help the population recover from these terrible storms, build back stronger than before, and improve countries’ resilience to natural disasters, he said.
The statement says Mozambique will receive $350 million [about K257 billion] to re-establish the water supply, rebuild damaged public infrastructure and crops, and support disease prevention, food security, social protection, and early warning systems in the impacted communities.
For neighboring Malawi, the CRW will provide $120 million [over K88.1 billion] in financing to restore agricultural livelihoods, reconstruct priority infrastructure, and support disease surveillance, reads the statement made available through APO Group.
The statement further says the World Bank intends to provide an exceptional allocation of up to $75 million (over K55 billion) to select UN agencies to support the people of Zimbabwe also affected by Cyclone Idai.
Funds will go toward a harmonized multi-sector livelihood support and recovery operation focused on social welfare and community interventions, reads the statement.
Meanwhile, the World Bank is also working with Mozambique and Comoros to assess and respond to the newest development-Cyclone Kenneth.
Malpass was in Mozambique as part of his first official trip as head of the organisation.
He earlier travelled to Ethiopia and Madagascar to visit several World Bank Group-funded projects; meet with government leaders, private sector representatives, and other stakeholders; and hear from beneficiaries and local partners.
Source: MANA Online