South Africa receives a $750 million World Bank loan to help combat COVID recovery

South Africa receives a $750 million World Bank loan to help combat COVID recovery ...

CAPE TOWN, Jan 21 - The World Bank has approved a loan of $750 million to South Africa as a result of COVID-19, which is intended to help the poor and help the country's economy recover from the epidemic.

South Africa, the continent's second largest economy, has been hit hard by four types of infection that killed close to 94,000 people and infected 3.5 million people in Africa's worst caseload.

As South Africa's unemployment rate reached new highs in 2021, successful lockdowns designed to protect people have resulted in the closure of thousands of businesses and enlarging an army of unemployed.

According to Dondo Mogajane, the World Bank's budget assistance is coming at a critical time for us.

Funds from the development policy loan would help bridge a financing gap involving additional expenditures on the COVID-19 epidemic, according to the economist.

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