COVID-19 in SA | World Bank approves $750m loan

The World Bank Group, in Washington on January 17, 2019.

The World Bank Group in Washington. AFP/Eric Baradat

JOHANNESBURG - A $750-million policy development goal has been approved by the World Bank.

It will be used to improve efforts in South Africa's fight against COVID-19.

The main aim is to protect the vulnerable from adverse socio-economic effects of the pandemic.

READ: Poor countries need 'comprehensive' debt relief: World Bank Chief

National Treasury says the support comes at a critical time for the country.

It says it will help close the financial gap caused by the pandemic.

The funding is a low-interest loan intended to contribute to the government's fiscal relief package.

Source
eNCA

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