Kathmandu: The World Bank has approved a fast-track US$ 29 million support to Nepal for COVID-19 Emergency Response and Health Systems Preparedness Project. The support is provided to help the country prevent, detect, and respond to the COVID-19 pandemic and strengthen its public health preparedness. The agreement was signed by the Ministry of Finance and the World Bank on Tuesday.
According to the WB, the project will focus on the immediate response and preparedness needs to fight the virus.

"The project provides emergency support to enhance Nepal’s capacity to detect cases and ensure prompt contact tracing consistent with World Health Organization (WHO) guidelines and Ministry of Health and Population protocols," said WB Country for Nepal Faris Hadad-Zervos in a video conference with the journalists on Tuesday.

It will also help set up new intensive care units, beds, and isolation facilities across the country. The MoHP will implement the project.
The project will also equip designated health facilities with personal protective equipment (PPE) and hygienic materials and increase the diagnostic capacity of laboratories for responding to public health emergencies.

It will enhance the National Public Health Laboratory to handle harmful infectious diseases and strengthen public institutions to coordinate and better manage response activities in all three levels of government.

"We wanted to react quickly to enable Nepal combat with the crisis with the necessary equipment and technical assistance when required," said Zervos.

Finance Secretary Shishir Kumar Dhungana said that the support would help Nepal respond to the COVID-19 pandemic and strengthen our capacities to deal with future public health risks. “The arrangements made by the government, immediately after the outbreak of COVID-19 in the country, to prevent and address the possible crisis have affected the socio-economic activities," he said.
Dhungana anticipated further support from the multilateral donor to cope with the emerging pandemic situation.
The project is financed from the International Development Association (IDA), the WB's concessional credit window for developing countries, through the World Bank Group’s COVID-19 Fast-Track Facility.

It will be effective immediately after the signing. It has also an option of WB-facilitated procurement as and when required as per the request of the implementing agency.

The World Bank Group is rolling out a $14 billion fast-track package to strengthen the COVID-19 response in developing countries and shorten the time to recovery. The immediate response includes financing, policy advice and technical assistance to help countries cope with the health and economic impacts of the pandemic.

As countries need broader support, the World Bank Group will deploy up to $160 billion over 15 months to protect the poor and vulnerable, support businesses, and bolster economic recovery, said Zervos.

United efforts to be made

Meanwhile, multilateral financial partners have held a meeting to discuss about the ways to support Nepal during the COVID-19 pandemic.
According to Zervos, WB, Asian Development Bank, Asian Infrastructure Investment Bank and International Monetary Fund are in the club.
The second meet between the development partners will be held on Friday and it will be attended by Finance Minister Dr. Yuba Raj Khatiwada and Governor of the Nepal Rastra Bank Maha Prasad Adhikari.

The meeting will deliberate on possible stimulus and recovery package needed for the economy. “The World Bank and its development partners are committed to helping Nepal beef up its health infrastructure and access the resources it needs to fight the spread of COVID-19 and protect the livelihoods of its people,” said Zervos.

However, he maintained that it is early to make any conclusion about the damage the pandemic has made on the economy.

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