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World Bank has donated USD 10 mln to Covid-19 Fund: President

President Ibrahim Mohamed Solih has noted that World Bank has donated USD 10 million to the Covid-19 fund.

Speaking during a press conference on Wednesday, President Solih noted that foreign institutions have been very hopeful about the aid they will provide. As such, he noted that World Bank has provided USD 10 million.

He noted that the USD 10 million was a grant by World Bank to the Covid-19 Fund. In addition to this negotiations are on going with banks such as ADB, OPEC, AIDB.

He further stressed that there were no plans to take the economic package by International Monetary Fund (IMF). Explaining the reason, President Solih noted that some of the conditions of the package include decreasing the amount of civil servant workers as well as reducing their salaries which the government does not wish to do as of now.

The President noted that around an year will be taken to recover from the losses caused by Covid-19. Hence, all available foreign aid will be accepted at the moment.