Zimbabwe Gets $7M From The World Bank
Zimbabwe is set to receive US$7 million from the World Bank to support its fight against the coronavirus pandemic.
The Bretton Woods institution indicated that the money comes from its trust funds and partners because Zimbabwe is not eligible to access funds through its regular financing channels because it is not current on its debt-service obligations with the institution.
In an emailed response to questions by Bloomberg, the Bank said:
We recognize this is a global crisis that impacts every country and we cannot leave anyone behind.
This comes a few weeks after Zimbabwe’s Finance Minister, Professor Mthuli Ncube made a heartbreaking plea to the International Monetary Fund to provide financial assist assistance to the country.
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Ncube said that the money would be used to fight the coronavirus pandemic and the economic and humanitarian crisis in the country.