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Ebola Update - Daily Noon Briefing (5 November 2014)

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Ebola Update by Stéphane Dujarric, Spokesman for the United Nations Secretary-General at the Daily Noon Briefing at UN Headquarters in New York (5 November 2014).
The International Finance Corporation, a member of the World Bank Group focused exclusively on the private sector, announced today a package of at least $450 million in commercial financing that will enable trade, investment, and employment in Guinea, Liberia and Sierra Leone.
Initiatives include support to fund critical imports in these countries, support to 800 small and medium enterprises to help ensure business continuity during the Ebola crisis, and investment projects for post-epidemic economic recovery.
The IFC says it is committed to finding and creating opportunities to encourage private investors to play a large role in the recovery of markets directly and indirectly affected by the Ebola outbreak in the three countries.
A full press release is available on the World Bank’s website.
This announcement comes as a new study from the UN Development Programme finds that the current outbreak is impairing the ability of governments to raise revenues, increasing their exposure to domestic and foreign debts, and may make them more dependent on aid.
In total, the governments of Guinea, Liberia and Sierra Leone are experiencing a shortfall of US$ 328 million to be able to function at pre-crisis levels.
The gaps are caused by increased spending to tackle the Ebola crisis and fiscal constraints resulting from a slowdown of economic activities such as tourism, mining and trade.
As a result of the current Ebola outbreak, government expenses have risen by about 30 percent in all three countries and fiscal deficits are also on the rise.
More is available from UNDP.
Global Ebola Response Website:
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