World Bank Allocates $3 Million to Armenia for COVID-19 Response

The World Bank’s Armenia office has announced that in response to the rapid global spread of the COVID-19 pandemic, and recently in Armenia, the World Bank is supporting the government’s efforts to protect the population during this outbreak.

At the request of Armenia’s Ministry of Health, the World Bank has allocated $3 million to meet the urgent needs for equipment and supplies necessary for the intensive therapy of confirmed COVID-19 cases. These funds will aid in acquiring 50 ventilators worth $1.35 million within the framework of the ongoing "Preventing and Controlling Diseases" program.

The procurement will be carried out using the expedited procedures of the World Bank for emergency situations. With the narrow specialized expertise provided by the World Bank, a rapid market analysis has been conducted to ensure value for money in conditions of significant global supply restrictions and rising prices for medical equipment.

As a result, the Armenian healthcare system will be equipped with additional high-quality devices essential for treating the increasing confirmed cases of the coronavirus.

“In this unexpected situation, the Bank is ready to support Armenia's response to mitigate the effects of the pandemic,” remarked Sylvie Bossutghon, the director of the World Bank's Armenia office. “I want to acknowledge the unprecedented dedication of Armenia's healthcare workers in support of the population. I also urge all citizens of Armenia to strictly adhere to emergency regulations and maintain social distancing and isolation measures aimed at minimizing the impact of the pandemic.”

The same approach will be applied in the procurement of additional ventilators and personal protective equipment to satisfy urgent healthcare needs. Additionally, the World Bank is ready to reprogram its current project portfolio in Armenia to support the government’s efforts against COVID-19 in various sectors.

The World Bank’s financial and technical assistance is closely coordinated with assistance from other international organizations and development finance institutions. Specifically, the aforementioned equipment purchases will be conducted directly through United Nations agency supply channels, considering the current global market restrictions on such intensive therapy equipment.

The World Bank group is deploying a $14 billion rapid response package aimed at strengthening responses to COVID-19 in developing countries and shortening the recovery phase. Immediate response includes funding, policy advice, and technical support to help countries overcome the health and economic consequences of the pandemic.

The International Finance Corporation (IFC) is providing $8 billion in financing to support private companies affected by the pandemic and to preserve jobs. The International Bank for Reconstruction and Development and the International Development Association (IBRD and IDA) are allocating an initial $6 billion for the health sector response. As countries require more extensive support, the World Bank group will mobilize $160 billion over the next 15 months to protect the poor and vulnerable, support businesses, and assist in economic recovery.