COVID-19 Crisis Response Emergency Development Policy Financing

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Closed

The development objective of COVID-19 Crisis Response Emergency Development Policy Financing is to support Seychelles in its response and recovery from Coronavirus (COVID-19) crisis by (1) enhancing response mechanisms in health, social protection and private sector; and (2) supporting sustainable post-crisis recovery through strengthened financial systems and climate resilience. The objective of the operation is to support measures taken by Seychelles to mitigate the economic impact of the Corona Virus Disease 2019 (COVID-19) pandemic and facilitate a resilient recovery. This development policy financing (DPF) is both urgent and critical, given the magnitude of the economic crisis and the unanticipated financing gap caused by the pandemic. The operation supports actions that provide financial relief to affected households and firms, structural reforms to improve the transparency and accountability of the financial system and policies to address climate change. These actions are aligned with the government’s announced emergency response measures as well as their broader reform program. The World Bank Group (WBG) is providing a fast and flexible response to the Coronavirus (COVID-19) pandemic, utilizing all WBG operational and policy instruments and working in close partnership with governments and other agencies. This DPF supports policy actions under two pillars: (1) - Protecting Lives and Livelihood; and (2) Protecting the Future.

World Bank Group

Project

Government