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Somoa has been approved for US$25m in grants from the World Bank’s Board of Executive Directors today.
The grant will support Samoa’s social and economic response and recovery from COVID-19 and in-hopes is set to boost and build resilience to health risks, climate change and natural disasters.
Measures to increase financing and increased benefits for the countries workers who have been affected by COVID-19 are set to improve the management of fiscal risks associated with state-owned enterprises.
Resilience to climate change and natural disasters, the World Bank has supported and helped develop legislation to improve Samoa’s natural disaster early warning systems.
The operation supports legislative changes to protect children from any infectious disease.
“We have all felt the unprecedented impacts of COVID-19; impacts that require strategic and sustainable approaches to help our economy, our people and ecosystems to come out stronger,” said the Minister of Finance, the Hon. Sili Epa Tuioti.
“This support from the World Bank will be critical to ensure that we can provide assistance to those Samoans who need it the most.”
Other funds can be called on in case of a natural disaster in the future.
During March of this year, Samoa was approved for US$5.1m in COVID-19 response funds, where the World Bank delivered the immediate funding to support the response to the pandemic for preparation and management.
In the year 2019, US$9.3m was awarded to Samoa to strengthen health systems over the coming years through its Samoa Health System Strengthening Program — it enabled Samoa to improve the quality and efficiency of its health system while also looking to prevent any outbreaks of communicable diseases and stem the rise of non-communicable diseases such as diabetes.
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