Togo could secure up to $15M to handle emergencies and natural disasters, under World Bank’s Immediate Response Mechanism

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Friday, 09 August 2019 14:46
Togo could secure up to $15M to handle emergencies and natural disasters, under World Bank’s Immediate Response Mechanism

(Togo First) - At the recent council of ministers held last Wednesday, Demba Tignokpa, minister of development planning and cooperation presented the Immediate Response Mechanism (MRI) established by the World Bank.

“This new tool will allow the World Bank to rapidly mobilize IDA funds to facilitate interventions to resolve emergencies.”

Flexible in nature, the MRI allows to draw from 5% of undisbursed IDA portfolio within 30 days, to support communities struck by issues such as floods, droughts, epidemics and epizootics, food crisis and severe economic shocks.

“The MRI could enable Togo mobilize about $15 million, which equates to nearly XOF8.5 billion, for emergencies or disasters,” reads a statement on the official website of the ministry of development planning and cooperation.

While the ministers’ council did not reveal which institution will steer the mechanism, it indicates that this organ “will provide general guidelines needed for its good execution, among others.”

Séna Akoda

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