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World Bank, GOL Sign US$115M Grant Deal

first_imgThe World Bank Group and the Government of Liberian (GOL) have signed a US$115 million additional financing grant in support of the Ebola Emergency Response Project (EERP) for Liberia. The money will go directly to the health sector in support of Liberia’s model of scaling up community care centers (CCCs), social mobilization and active case search. It will also support rapid response teams and laboratories, medical waste management, training and health workers’ hazard pay and the deployment of qualified foreign health workers to help Liberian medical staff fight Ebola and restore essential health services across the country. The signing ceremony took place at the Ministry of Finance and Development Planning (MFDP) in Monrovia on Monday, November 24, with the World Bank Country Manager, Ms. Inguna Dobraja, declaring that these grant resources will support the Liberian government to achieve zero cases of Ebola. “Zero cases must be our goal,” said the World Bank Country Manager who signed the agreement on behalf of the Bank. “Although we have seen decline in the number of cases in Liberia, the epidemic is far from over. We need to be fast and dynamic in order to achieve zero Ebola virus disease (EVD); be flexible and adapt our response to changing conditions on the ground.” Ms. Inguna warned “Ebola is not a disease where you can leave a few cases and say we have done enough. No! We cannot slow down the response.” The US$115 million grant agreement penned on Monday is in addition to a US$52 million grant provided to the government by the World Bank few weeks ago bringing the Bank’s total grant support directly to the Liberian government to fight the Ebola epidemic to US$167 million. Ms. Inguna assured the Liberian government of the Bank’s continuing commitment to support the fight against the Ebola epidemic and in the recovery efforts once the outbreak is totally defeated. She also reminded the government to make sure that Liberians do not die from malaria, typhoid and other curable sicknesses despite the intense focus on the Ebola virus outbreak. “The direct impact of the crisis has wiped out hard-earned development gains and many Liberians have lost their livelihoods,” said Ms. Inguna. “We need to support the most vulnerable, especially the Ebola-affected families, get children back to school and farmers back to their fields.” In response, Liberia’s FDP Minister Amara M. Konneh thanked the World Bank Group, particularly President Jim Yong Kim, for the direct support to the government in the fight against the EVD. Minister Konneh declared the US$115 million grant by the World Bank is the second trench of support the Bank is giving to the Liberian government, the first being the US$52 million grant given to the government few weeks ago. “We are more grateful to the World Bank Group, which happens to be the largest donor to the government thus far in the fight against the EVD,” said Minister Konneh. “We [government] will use portion of the money to reopen our clinics and hospitals across the country both public and private. We will also use some of this grant to support our communities because they took charge of themselves and are still doing so in absence of the government and other health institutions,” he added.According to Minister Konneh, the US$115 million will contribute to the control of the Ebola virus disease in the country including psychosocial supports, amongst others.He recalled how the Liberian government had difficulties in handling the EVD outbreak few months ago, but noted that today is a new era where the government has identified the causes of Ebola and how to tackle it.The Liberian Finance Minister underscored the importance of the latest World Bank support as it will help restore basic health services across the country. “We are not going be satisfied until all of our health services are reopened even though the Health Ministry is already reopening hospitals and clinics gradually,” he added.Mr. Konneh warned the public that the EVD outbreak is not over yet despite the decline in the spread of the virus. He praised the Bank’s Country Manager for her strong support in acquiring the fresh financing to fight the EVD.Earlier, Deputy Health Minister for Administration, Mr. Matthew T. K. Flomo, who witnessed the signing ceremony thanked the World Bank for the huge direct support to the Ministry of Health for Ebola response. Minister Flomo also thanked Minister Konneh for lobbying for the grant resources and said the money will help strengthen and improve the sector.On November 18, 2014, the World Bank Group’s Board of Executive Directors approved a US$285 million grant to finance Ebola-containment efforts underway in Guinea, Liberia and Sierra Leone. The Bank announced that the money would be used to help communities in the three countries cope with the socioeconomic impact of the crisis and rebuild and strengthen essential health services.  The grant is part of the nearly US$1 billion previously announced by the World Bank Group for the countries hardest hit by the Ebola crisis.The grant provides additional financing to the Ebola Emergency Response Project (EERP) approved by the WBG’s Board on September 16, 2014, including US$72 million for Guinea, US$115 million for Liberia and US$98 million for Sierra Leone, the three countries most-affected by Ebola.The announcement by the Bank brings the total financing approved so far from the World Bank Group’s International Development Association (IDA) Crisis Response Window (CRW) for the Ebola response to US$390 million. The CRW is designed to help low-income IDA countries recover from severe disasters and crises. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Love & Money: How to Split Shared Bills When Partnered

first_img Post navigation As a couple, you’ve gone halfsies on many a meal, saved for trips together, and gifted joint presents. So now that you’re ready to take the next step in your relationship and move in together, splitting your shared expenses should be a cinch, right? Not so fast. There are a few intricacies and to consider when sharing household finances. In our next installment of the Love & Money series, here’s how to go about splitting bills when you’re partnered:Decide on a SystemFirst, agree on an approach that you both feel most comfortable with. Consider the following methods:Separate Accounts: You handle your money completely on your own, and devise a separate system to pay joint bills. The obvious advantage to this is that you have more control over your money. If you and your significant other have drastically different money management styles, this method might be the best to start with.You can test the waters by saving for a trip or a joint wedding gift. If things go well, you might consider also opening a joint account for shared expenses.Joint Account: You pool your money together and tap into your one joint account to handle all your bills and to save for any shared goals.If you’re going this route, set some ground rules. Do you need to have a discussion before buying certain types of items, or for purchases that cost more than a certain amount? Having a joint account will require more communication and a clear setting of boundaries. Otherwise, it could lead to resentment, financial infidelity (where one partner is opening secret accounts or making discreet purchases), or other acts of betrayal.  Separate and Joint Accounts: You open a joint account to pay for bills and any shared goals. You also have separate accounts to use for whatever you please.Figure out what works best for you, whether you want to combine finances, keep them separate, or do both, says financial coach Gerald Zeigler. Whatever you do, establish full transparency, especially if you’re married. “If you’re not married, then establish boundaries, and determine which goals you’ll be working toward together,” says Zeigler. There’s no right, wrong, or best way. Just like you aren’t a more unified couple if you wear matching outfits while on vacation, you aren’t a “better” or “closer” couple merely because you only have a joint account.What it boils down to are individual preferences. I personally can’t imagine ever only having a joint account with a partner. I’m quite rigorous in my money management, and I don’t need anyone I couple with to be equally so. Plus, we both need ample space to make our own spending choices. And remember: You can always switch it up or make changes as you see fit.Divide and Conquer Once you’ve determined which approach to accounts is best for you and your partner, you’ll want to get into the nitty-gritty and figure out how to divvy up the bills. Will you be splitting all the bills? What about pet care for your partner’s pooch or feline? And does that go for any existing expenses you had before you started splitting bills, such as car insurance payments?Consider a typical household expense, such as internet. If one of you works from home, should that person cover that bill? No question should go unanswered. Take time to talk things through. It’s important to establish clear rules and expectations from the get-go.Proportional Splitting  If you and your partner bring in different amounts of money, consider proportional splitting, recommends Tina Parcell, a financial coach of Advising Well. For instance, if your income is 60-40, split the bills as such. Do you each earn the same amount? Then divvy up the bills evenly.And if one partner brings in a steady paycheck while the other has variable income (i.e., is a freelancer), then consider designating the partner with the steady income to handle the main expenses, such as rent and bills. The other partner is responsible for covering discretionary expenses, such as groceries, household items, and bills that are paid in installments throughout the year, like insurance.  Designate a Household CFO  When I was in college, we designated one of our roomies to be the household CFO. We each were responsible for handling certain bills, and the CFO did basic math to figure out how much was owed. Having the one who was most financially savvy (she was a business major) handle our bills prevented confusion and ensured we paid all our bills on time.Let’s say you and your partner decide to each handle certain bills instead of having one person take care of all of them. In that case, you still might want to designate a household CFO to make sure the bills are all paid and that you’re on track with your spending.Consider a Joint Emergency Fund  When you’re splitting funds, your financial situations affect one another more directly. It’s one thing when your partner is temporarily underemployed and you can’t go out to fancy dinners as often, but another when their circumstances mean you won’t be able to cover your rent.As my partner and I are both self-employed, it’s scary to think that our lean months should ever coincide. To allay potential stress, consider creating a joint emergency fund that’s intended to cover your shared living expenses. Figure out a target amount you’d like tucked away. If you ever need to tap into it, talk to your partner about who is responsible for topping it off, then figure out a means to stay accountable. Honor Your Money Management Style  This goes for relationships in general, but if you feel like you’re compromising in any way just to please your partner, chances are that it will lead to stress and resentment. I find that it’s important to be honest and to honor what works best for each of you. Instead of trying to change someone, which usually has a success rate of zero, come up with a creative solution that takes into account your respective needs and ways of being.Your partnership is akin to a delicate dance. You’ll need to be sensitive to each other’s needs and pressure points, and your household finances are an extension of that. By communicating as necessary and having a game plan in place, you’ll be able to devise an approach to splitting the bills that is perfectly tailored to your relationship.  Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window) RelatedLove and Money: How to Budget as a Couple When You Have Different Approaches to FinancesFebruary 20, 2019In “Family Finances”How to Talk Money in a Relationship: Dos and Don’tsFebruary 14, 2019In “Money Etiquette”How to Budget Peacefully With a RoommateFebruary 28, 2019In “Housing Finances” last_img read more