IMF readies $127M for 3 countries battling Ebola

Staff Writer
Columbus CEO

WASHINGTON (AP) — The International Monetary Fund is preparing $127 million in zero-interest loans to the three African countries hardest hit by the Ebola outbreak — Guinea, Liberia and Sierra Leone.

The money would help the three governments deal with rising health and security expenses at a time when Ebola has damaged their economies and reduced tax revenue. The IMF says that the loans would cover "a sizeable share" of the $300 million the governments need over the next six to nine months. The IMF's staff recommended the loans and the fund's board will consider the request early next month.

The World Bank on Tuesday approved a $105 million grant to finance efforts to contain Ebola. The disease is believed to have killed at least 2,400 people in the biggest outbreak ever.