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COVID-19: 60 Million People Likely to Go into Extreme Poverty – World Bank
The World Bank Group has again raised an alarm that the growing impact of the coronavirus pandemic on the global economy and shutdown of many advanced economies could push as many as 60 million people into extreme poverty.
The World Bank Group President, David Malpass, said the situation erases much of the recent progress recorded in poverty alleviation around the world.
He said these prospects were what compelled the World Bank Group to move swiftly and decisively to establish emergency response mechanisms that allow donor groups and organisations to rapidly expand help programmes in 100 countries, home to 70 per cent of the world’s population.
To return to the path of global economic growth, Mr Malpass said the group’s goal must be rapid and flexible to tackle the health emergency.
He said the objective must also be to provide cash and other expandable support to protect the poor, maintain the private sector, and strengthen economic resilience and recovery.
Since March, the World Bank said, it delivered record levels of support to help countries protect the poor and vulnerable, reinforce health systems, maintain the private sector and bolster economic recovery.
“This assistance, the largest and fastest crisis response in the Bank Group’s history marks a milestone in implementing the Bank Group’s pledge to make available $160 billion in grants and financial support over a 15-month period to help developing countries respond to the health, social and economic impacts of COVID-19 and the economic shutdown in advanced countries,” it said on Tuesday.
Of the 100 countries, 39 are in Sub-Saharan Africa, with nearly one-third of the total projects located in fragile and conflict-affected situations, such as Afghanistan, Chad, Haiti, and Niger.
The group said the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) have also fast-tracked support to businesses in developing countries, including trade finance and working capital to maintain private sectors, jobs and livelihoods.
Mr Malpass said the group’s support through grants, loans and equity investments would be supplemented by the suspension of bilateral debt service, as endorsed by the bank’s governors.
The eligible countries for International Development Agencies (IDA) that request a forbearance on their official bilateral debt payments, the World Bank President said, would have more financial resources to respond to the COVID-19 pandemic and fund critical, life-saving emergency responses.
“The bilateral debt-service suspension being offered will free up crucial resources for IDA countries to fund emergency responses to COVID-19,” Mr Malpass said.
“Nations should move quickly to substantially increase the transparency of all their governments’ financial commitments. This will increase the confidence in the investment climate and encourage more beneficial debt and investment in the future.”
The group’s operations in 100 countries aim to save lives, protect livelihoods, build resilience, and boost recovery by strengthening health systems, monitoring and prevention, particularly in low-income countries and in fragile and conflict-affected situations.
The health response programmes address emergency containment and mitigation needs for COVID-19, including strengthening countries’ health systems to treat severe cases and save lives.
The group also establishes and supports efforts in fragile and conflict-affected situations as a priority, given the rapidly growing number of cases in some of these countries.
The World Bank President said disbursement of financial supports are already ongoing to Senegal ($20 million) and Ghana ($35 million) including funding to strengthen disease surveillance systems, public health laboratories, and epidemiological capacity for early detection.
Again, the bank is also leveraging countries’ existing social protection systems to help families and businesses restore income, preserve livelihoods, and compensate for increasing prices and unexpected medical expenses.
These safety nets are needed to augment with safe, direct food distribution, accompanied by key information on nutrition, social distancing, and hygiene.
Premium Times
US President, Donald Trump, has ordered the Pentagon – headquarters of the United States Department of Defense – to prioritize the protection of Christians targeted by ISIS terrorists in Nigeria.
U.S. Secretary of War, Pete Hegseth, disclosed this on Wednesday while stressing that the mission has quietly led to the killing of ISIS’ second-in-command in Nigeria.
Speaking during a cabinet meeting chaired by President Trump at the White House, Hegseth said:
“To give you a sense of how committed this president is (referring to President Trump), maybe, a year ago, he heard the call of Nigerian Christians who are being targeted and killed by ISIS in Nigeria.
“He said, Pete, I want the war department to focus on ensuring that we do whatever we can to protect those Christians”.
He further said: “Partnerships like that can take some time behind the scenes, but he never wavered on it. We got the assets there over the last month. There has not been much coverage of this”.
He added that U.S. intelligence gathered during the operation helped lead to the deaths of “hundreds” of ISIS fighters tied to attacks on Christians and threats against the U.S. homeland.
“We killed ISIS’ number two in Nigeria, who is most responsible for killing Christians and trying to target U.S. homeland.
“There’s a lot of things we do that the media pays attention to, and a lot of things that the president empowers the Department to do on behalf of the American people, that he deserves great credit for,” Hegseth concluded.
Controversial social media activist, Martins Vincent Otse aka VeryDarkMan (VDM), has reacted strongly to allegations surrounding the circulation of an alleged audio involving President Bola Ahmed Tinubu.
VDM spoke in a lengthy video posted on social media after comments credited to presidential spokesperson, Bayo Onanuga, accused him of disseminating a fake audio related to the President.
In the video, VDM claimed he began receiving several calls warning him not to return to Nigeria following the controversy surrounding the audio clip.
According to him, some associates advised him to remain abroad over fears that he could be arrested upon his return to the country.
Reacting to the development, VDM denied any wrongdoing and insisted that he had the constitutional right to criticise the government and comment on national issues.
He accused government officials of paying more attention to critics on social media instead of addressing pressing security challenges confronting the country.
The activist also criticised the Federal government over insecurity, kidnappings and economic hardship, arguing that Nigerians were facing difficult living conditions across the country.
VDM further alleged that some individuals were attempting to create a narrative to justify possible actions against him because of his criticism of the administration.
He maintained that he would continue speaking on issues affecting Nigerians, particularly insecurity and governance.
During the emotional video, the social commentator repeatedly questioned why government officials were allegedly more vocal about online controversies than incidents of bandit attacks and kidnappings.
He also urged Nigerians to participate actively in the 2027 general elections, insisting that citizens must make decisions based on the performance of political leaders.
The controversy followed comments attributed to Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy, who reportedly stated that VDM should “face the weight of the law” over the alleged circulation of fake audio involving the President.
As of the time of filing this report, there was no official confirmation from security agencies regarding any planned action against the activist.
By Eric Elezuo
Former Vice President Atiku Abubakar has been declared winner of the presidential primary of the African Democratic Congress (ADC).
The declaration was made at the Trascorp Hilton Hotel, where the final collation of results was made.
The former Vice President polled a total of 1, 846, 370 votes to defeat his closest rival, former Governor of Rivers State, Hon Rotimi Amaechi, who scored just over 500 thousand votes. Alhaji Muhammed Hayatu-Deen came third.
