The World Bank Board has approved the financing of US$25 million for Grenada's First Recovery and Resilience Programmatic Development Policy Credit.
The World Bank says the COVID-19 pandemic caused massive socio-economic impacts, which are expected to exacerbate the pre-existing vulnerabilities of Grenada as a small island developing state.
The financing is expected to help support Grenada's recovery by promoting a greener and more climate-resilient economy, improving sustainability, and greater accountability of fiscal management.
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