World Bank, IMF Spring Meeting concludes

Presidents of the three West African countries that are most affected by the Ebola Virus Disease (EVD) outbreak took part in an economic recovery roundtable. They all gathered at the Headquarters of the World Bank Group in Washington DC, USA.

The meeting was chaired by the Bank's President, Jim Yong Kim and the International Monetary Fund Managing Director Christine Lagarde and other international partners attended the meeting. The meeting concluded in the announcement of a new support worth USD 650million to the three affected countries in the next 12 to 18 months.

An announcement about the new funding from the International Development Association (IDA) has been made by Kim. The new funding is on top of about US$1 billion that the Bank earlier promised for the Ebola emergency response and early recovery efforts from the IDA US$518 million and the International Finance Corporation (IFC) US$450 million.

This help comes on top of US$2.17 billion in debt relief during 2015-17. This debt cancellation is going to save the three countries about US$75 million yearly in debt repayments.

"Even as we work relentlessly to get to zero new Ebola cases, the international community must help Guinea, Liberia and Sierra Leone jumpstart their recovery and build a safer, more prosperous and resilient future for their people", said Kim.

Kim also said he want to praise the three Presidents of the affected countries for their show of leadership during such a difficult time promise them that they will carry on to provide support in ending Ebola and the recovery stage.

Liberia's President Ellen Johnson Sirleaf highly praised the World Bank Group, IMF, UN and other partners. Sirleaf said that every countries experienced significant economic challenges last year and also continues to do because of the decline in global prices of iron ore.