WASHINGTON (Pakistan Point News / Sputnik - 16th May, 2020) Benin will receive $125 million in emergency funding to help the country fund increases in healthcare spending while fighting the coronavirus pandemic, the IMF announced in a press release on Monday.
"The [IMF] Executive board decision allows an immediate disbursement of US$125.1 million to Benin to address the urgent financing needs stemming spread of COVID-19 and to mitigate its economic and social impacts. The authorities are implementing a response plan that will raise significantly health spending and provide support to vulnerable households and impacted businesses," the release said.
The disbursement coincides with the IMF's completion of a final review of a three-year economic reform plan for Benin.
The additional $125 brings total IMF disbursements for Benin to $254.8 million during the past three years, the release said.
The IMF has said the agency is in a position to provide up to $1 trillion to low income nations to help battle the pandemic.
