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Covid-19 : Update on the situation and the issues ahead

Vaccine against Covid-19 : Madagascar to place orders

Covid-19 : Update on the situation and the issues ahead

One year already

It is now a year since the pandemic broke out. It has brought with it its procession of #8217 health emergencies and a global economic crisis. Covid-19 : Update on the situation and the issues ahead.

One year since the pandemic spreads disease and death, and jeopardises livelihoods, threatening to dive 150 million more people in the extreme #8217 poverty #8217 by the end of the #8217 year.

And if the rapid development of vaccines raises hopes, we know that the pandemic will continue to dominate our lives 2021. And we also have that we are still far from the end of this crisis. That is why it is useful to take stock of the current situation and to look at the next steps.

The World Bank's Director-General of Operations gives us more information

Having recently participated in a roundtable discussion, to take stock of the progress and address the challenges in the global fight against coronavirus, Axel Van Trotsenburg, World Bank Director-General of Operations, we share in "World Bank Blog" some elements about the Covid-19 : Update on the situation and the issues ahead.

Quick and decisive action

The World Bank Group has learned a key lesson from the first phase of the response. « Notre action doit être rapide et décisive pour apporter un soutien massif à nos clients des pays en développement ». La Banque mondiale s’est attachée à relever ce défi au cours de l’année écoulée. Our operations, usually #8217 order 42 billions of dollars a year, have moved on to 71 $ billion in 2020.

"The World Bank Group and many other organizations are committed to doing everything in their power to ensure that new vaccines reach people in developing countries.. »

Mobilizing additional resources

However, the needs of low- and middle-income countries are much greater, as they grapple with COVID and are beginning to work on their recovery. Industrialised countries have spent up to #8217 15 to 20 % their GDP to finance stimulus packages. While for emerging markets, this amount is more likely to be 6 % and less than 2 % pour les pays les plus pauvres. Pour accompagner ces pays à la hauteur de leurs besoins, World Bank Group will need to mobilize substantial additional resources, particularly with the donor community.

“Since May 2020, we are also helping the poorest countries through the #8217 Debt Service Suspension Initiative (ISSD), working in collaboration with the IMF and the G20.”

Solidarity

The #8217 initiative has highlighted a more fundamental concern, that this global crisis requires more solidarity and #8217 international interventions. Given that the pandemic affects all countries simultaneously, there is a great risk that the richest will focus primarily on their own crisis and their own recovery. Vaccines against COVID-19 are a clear example of this risk.

COVAX : Fair distribution of the vaccine

Le Groupe de la Banque mondiale et de nombreuses autres organisations se sont engagés à faire tout ce qui est en leur pouvoir pour que les nouveaux vaccins parviennent aux populations des pays en développement. L’un des outils pour cela est COVAX program, a mechanism that has been created to ensure equitable global access to vaccines. Gold, at this initial stage, industrialized countries bought most of the doses, at the expense of supply to developing countries.

Imminent risks

« Si la distribution de vaccins est aujourd’hui aussi pressante que l’urgence sanitaire elle-même, nous devons également faire face aux possibles conséquences à long terme de la pandémie pour les pays en développement ». À commencer par l’enjeu de l’éducation : COVID prevents children from #8217 to attend school #8217 around the world and imposes #8217 distance education, which exacerbates inequalities for those who do not #8217 have access to it.

This situation could last two or even three years, and we already know that fewer #8217 students return to class where schools have been able to reopen. It #8217 not excessive to say that the world risks sacrificing an entire generation.

The World Bank's efforts

Faced with such colossal challenges, what should the World Bank Group and partner countries focus on in the future #8217 of the future? ?

On the long road ahead, les pays en développement ont la possibilité de tirer parti de cette phase de reconstruction pour penser autrement leur économie. Ils peuvent ainsi mettre en place des politiques et des réformes qui élargissent la participation économique, #8217 rely on technology to deliver more effective and inclusive essential services, especially in the health sectors, education and social protection, and facilitate collaboration between the public and private sectors in the service of development goals.

Recovery efforts can also strengthen countries' climate commitments, with more #8217 jobs in emerging sectors, greener.

Developing countries are the most vulnerable to this global crisis, and they are the ones who will have the hardest time overcoming it.

The World Bank Group remains committed to helping them secure the financial resources and sustainable international support they need.

« C’est un combat qui nous concerne tous, et je suis optimiste quant à la possibilité de voir une réelle amélioration dans de nombreux pays en 2021. » says Axel Van Trotsenburg, World Bank Director General of Operations.

(Source : World Bank Blog by AXEL VAN TROTSENBURG, 09/02/2021)

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