[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109618-en":3,"doc-seo-109618-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109618,7971461740886,"Theodore","https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2",8,"Research & Report","IFC Fast Track COVID-19 Facility - Proposed Investment - Report to the Board of Directors","Report to the Board of Directors presents how the World Bank Group Fast Track COVID-19 Facility (FTCF) would enable a rapid and coordinated response to the global COVID-19 outbreak, with a focus on IFC resources. It outlines the facility’s scale and initial funding mix, explains IFC’s objective to mount a fast and flexible response, and details how the plan supports country-level and global efforts. It further describes the rationale for IFC’s role, highlighting impacts on private sector operations, liquidity needs, and job preservation.","Public Disc losure Authorized  \nREPORT  \nTO THE  \nBOARD OF DIRECTORS  \nON A  \nPROPOSED INVESTMENT IN  \nIFC FAST TRACK COVID-19 FACILITY  \nWORLD REGION  \nPub lic Disc losure Authorized  \n\n| Chief Operating Officer: | Stephanie Von Friedeburg |\n| --- | --- |\n| Vice President, Risk and Finance | Mohamed Gouled |\n| Vice President, Economics: | Hans Peter Lankes |\n| Vice President & General Counsel: | Christopher Stevens |\n| Regional Vice Presidents: | Snezana Stoiljkovic, Georgina Baker, Sergio Pimenta |\n| Global Industry Senior Directors: | Paulo de Bolle, Morgan Landy, Tomasz Telma, William Sonneborn |\n| Director, ES&G | Mary Porter Peschka |\n\nWORLD REGION  \nIFC FAST TRACK COVID-19 FACILITY  \nCurrency  \nUS Dollar (US$)  \nFiscal Year  \nJuly 1, 2019 – June 30, 2020  \nAbbreviations  \nAS  \nASFCOVID-19  \nCOVRPCPSDADARP DOTS ESMS FY GDP GTFP GWLF IMF PMIRSCR RSCRF US$ WBG WHO  \nAdvisory Services African Swine Fever Coronavirus  \nCoronavirus Recovery Program Country Partnership Strategy Distressed Assets  \nDebt and Asset Recovery Program Development Outcome Tracking System Environmental and Social Management System Fiscal Year  \nGross Domestic Product  \nGlobal Trade Finance & Liquidity Program Global Working Capital Liquidity Facility International Money Fund  \nPurchasing Managers Index Real Sector Crisis Response  \nReal Sector Crisis Response Facility United States Dollar  \nWorld Bank Group  \nWorld Health Organization  \nI. Introduction  \n1. On March 3, 2020, Executive Directors discussed how the World Bank Group (WBG) would respond to the global outbreak of the coronavirus disease (COVID-19) . 1 Executive Directors expressed broad support for the WBG to take urgent action to support the global public good by helping client countries to respond to the outbreak and prevent and reduce contagion and loss of life. They supported the establishment and launch of a World Bank Group Fast Track COVID-19 Facility (FTCF or Facility), that would provide up to US$12 billion in immediate support to assist countries and private sector companies within them to cope with the impact of the global outbreak. Of this amount, US$6 billion would come from IBRD and IDA, and US$6 billion would come from IFC. The FTCF was announced in a press release the same day. In addition to the originally-proposed US$6 billion in funding, in discussion with existing global financial institutions (FIs) clients in relation to COVID-19, we have learned that there is demand for IFC to complement the original proposal further by increasing the Global Trade Liquidity Program (GTLP) by an additional US$2 billion, thus increasing IFC’s total deployment capacity to up to US$8 billion (the IFC Facility) .  \n2. The objective of this paper is to describe how the FTCF would operate with respect to IFC resources. IBRD and IDA are preparing a separate paper that will cover their response to the outbreak. Given the fluidity of the situation, this paper does not seek to provide additional data on the pandemic but is focused instead on setting out the details that will allow IFC to mount a fast and flexible response. Management will keep Executive Directors appraised of how the pandemic evolves as new information becomes available.  \n3. The paper is organized as follows: Section II describes the strategy underpinning the IFC’s response, including how this response supports country-level and global efforts. Section III describes the proposed FTCF, including funding, allocation and processing modalities.  \nII. IFC’s Contribution to the World Bank Group Response  \n4. The rapid spread of COVID-19 calls for a global, coordinated, flexible and fast response. The WBG is committed to playing its part in the global response, working in close partnership with member governments, other agencies and the private sector. In addition to its heavy human toll, the crisis, and its aftermath, pose major challenges for the global economy. The private sector, which provides around 90 percent of employment in de","cbCaisKLVnM8xACR","https://ap.wps.com/l/cbCaisKLVnM8xACR","pdf",271056,3,1,11,"English","en",105,"# I. Introduction\n## IFC’s Contribution to the World Bank Group Response\n### 1. Global response rationale\n### 2. Private sector needs and IFC support approach\n### 3. Revised IFC response capacity","[{\"question\":\"What is the purpose of the paper for the Board of Directors?\",\"answer\":\"The paper describes how the Fast Track COVID-19 Facility would operate with respect to IFC resources, focusing on details that enable a fast and flexible IFC response.\"},{\"question\":\"How much funding is planned under the facility, and what is the breakdown between IBRD/IDA and IFC?\",\"answer\":\"The facility provides up to US$12 billion in immediate support, with US$6 billion from IBRD and IDA and US$6 billion from IFC.\"},{\"question\":\"Why is the private sector a key target for IFC’s COVID-19 response?\",\"answer\":\"The private sector faces supply chain disruptions and slowing growth, and many firms need payment term extensions or additional liquidity to sustain operations, supporting job preservation and limiting demand retraction.\"}]","IFC Fast Track COVID-19 Facility - Proposed Investment - Report to the Board of Directors | 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is the purpose of the paper for the Board of Directors?","Question",{"text":76,"@type":77},"The paper describes how the Fast Track COVID-19 Facility would operate with respect to IFC resources, focusing on details that enable a fast and flexible IFC response.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How much funding is planned under the facility, and what is the breakdown between IBRD/IDA and IFC?",{"text":81,"@type":77},"The facility provides up to US$12 billion in immediate support, with US$6 billion from IBRD and IDA and US$6 billion from IFC.",{"name":83,"@type":74,"acceptedAnswer":84},"Why is the private sector a key target for IFC’s COVID-19 response?",{"text":85,"@type":77},"The private sector faces supply chain disruptions and slowing growth, and many firms need payment term extensions or additional liquidity to sustain operations, supporting job preservation and limiting demand 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