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World Bank: Coronavirus crisis can push 60 million people into ‘extreme poverty’

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A deserted shopping mall in the city centre of Stockholm is pictured on March 17, 2020, as many activities came to a halt or slowed down due to the spread of the novel coronavirus. (Photo by Fredrik SANDBERG / TT News Agency / AFP) / Sweden OUT (Photo by FREDRIK SANDBERG/TT News Agency/AFP via Getty Images)

The warning signaled a deeper pessimism among economists about the scale and duration of the fall from what banks call an “unprecedented crisis.”

The World Bank, which provides loans and grants to the governments of poor countries, predicted a month ago that this year would mark a historic step back for inequality, with a pandemic “likely to lead to the first increase in global poverty since 1998.”
It said in a blog post on April 20 that “best estimate ” is that 49 million people will be forced into extreme poverty, which by definition banks have to live on less than $ 1.90 per day.

The deteriorating outlook is caused by the spread of economic activity and “erasing much of the recent progress in poverty alleviation,” World Bank President David Malpass said in a statement.

The recent surge in cases in several countries has also forced banks to implement what they consider to be the “biggest and fastest crisis response” ever. It said emergency relief efforts had reached 100 developing countries, which are home to 70% of the world’s population.

The World Bank aims to help vulnerable people by giving grants and loans to individuals and businesses, and defer debt payments to some of the world’s poorest countries. Overall, it’s been promised at the very least $ 160 billion to combat the virus so far.

Some of the poorest people in the world have begun to feel the pain.

Migrant workers around the world lost their jobs because the pandemic stopped working in various industries. As a result, the World Bank estimates that global remittances, or money sent home to families, could drop 20%, or around $ 100 billion, this year.
& # 39; I can't send money back home ': How is the lifeline for the poorest people in the world cut off because Covid-19

Tens of millions of people in Africa may become poor as a result of the crisis, human rights leaders warned Wednesday.

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“We cannot stand by and hope that this most virulent and deadly disease passes through Africa, which is home to many of the poorest countries in the world who are not in a position to handle such a pandemic,” UN High Commissioner for Human Rights Michelle Bachelet and Chair of the Commission Africa for Human Rights and Society Solomon Dersso said in a joint statement.

Country & # 39; a large pile of debt turned into a disaster
The World Bank said last month that it expected people in sub-Saharan Africa to suffer the most. At present, 39 of the 100 World Bank targeted countries are there, and at least 23 million residents in the region projected to go to the extreme poverty due to coronavirus outbreaks.
South Asia also tends to suffer. In addition to Nigeria and the Democratic Republic of the Congo, World Bank economists the word last month that India, one of the most populous countries in the world, was estimated to see “the biggest change in the number of poor people,” with around 12 million affected.
“The place where the virus takes the highest casualties depends mainly on two factors,” wrote analysts at the bank blog post. “The impact of the virus on economic activity and … the number of people living close to the international poverty line.”

– Sarah Dean from CNN contributed to this report.

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PRR. Banco do Fomento invites companies to offer new financial instruments – Observer

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PRR.  Banco do Fomento invites companies to offer new financial instruments – Observer

Banco Português de Fomento started a public consultation this Friday aiming to receive contributions to launch new instruments under the Recovery and Resilience Plan (PRR) which still has 475 million euros.

In a statement, the organization stressed that it intends to invite companies and all stakeholders to participate in public consultations on “future capital and quasi-capital decisions.”

According to PRR, Banco Português de Fomento (BPF) has been cast in “structuring and distribution of capital decisions and quasi-equity capital of a total of €1,425 million under the Capitalization and Business Innovation component of the PRR.

The Belarusian Popular Front still has 475 million euros to launch new programs, the organization’s press release emphasizes.

The public consultation is aimed at soliciting contributions under “the terms of two pre-structured financial instruments designed to encourage company formation and/or capitalization of businesses, primarily in the start-up phases”, “Venture Capital Program” (an instrument that assumes a fund structure of funds)” and “The Deal Co-investment Program (an instrument that takes the form of direct investment in companies, always in co-investment with private investors)”.

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“These tool proposals are aimed at facilitating market entry and growth/expansion of viable companies through the development new products/services or markets and strengthening and professionalization of personnel, including the management team,” the BNF press release further emphasizes.

The public consultation is also aimed at obtaining “other proposals for new capital and quasi-capital solutions in accordance with the terms of the aforementioned capitalization funds, which are considered relevant and necessary because they are considered unavailable at the time, or existing conditions that prevent access and use.”

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Ana Carvalho, CEO of BPF, emphasized that these public consultations “are aimed at building an open dialogue with all actors of the business ecosystem, with to improve workflows and identify market failuresand the most appropriate solutions to overcome them.”

“Although we are actively in contact with various associations and institutions, this public comment allows all interested parties to participate, especially potential beneficiaries and partners involved in these measures,” he added, quoted in a press release.

All information and technical descriptions of the two pre-structured products are available on the Banco Português de Fomento website at the link https://www.bpfomento.pt/pt/consulta-publica-sobre-novos-instrumentos-financeiros-prr/.

Suggestions or offers must be submitted online for a thorough assessment by the Belarusian Popular Front until 18:00 on December 19, this body further explained.

The mission of Banco Português de Fomento is to support the economic and social development of Portugal by creating and providing innovative, competitive and appropriate solutions to the needs and challenges of the business ecosystem, enhancing entrepreneurial potential, investment and job creation, and promoting sustainability and economic, social and territorial cohesion of the country.

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FESTin returns to distribute Portuguese-language cinema worldwide | Cinema

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FESTin returns to distribute Portuguese-language cinema worldwide |  Cinema

For the 13th edition, FESTin’s mission remains the same: “Bring cinema in Portuguese to the whole world.” So says co-director Adriana Niemeyer by phone with PÚBLICO on the eve of the start of the film festival, which starts this Friday and runs until next week, ending on Wednesday the 14th at LX Factory at 7:00 pm, in Espaço Talante, inside the bookstore Ler Devagar , with a screening of four Brazilian short films chosen by Antonio Grassi, the actor in charge of the space, followed by a toast.

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VARIOUS. Portuguese project that wears a shirt for mental health

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VARIOUS.  Portuguese project that wears a shirt for mental health

Little phrases with big meaning sometimes fit into T-shirtright now in bag da Ivory, a project that began in the year of the pandemic and has been interventionally warning about mental health issues ever since.

Francisco Soares Ganzo, the founder, first suffered a panic attack when he was in 10th grade, but ended up not paying much attention to signs that something was wrong. Then the mental health problem reappeared later, at a different stage in life and with different symptoms.

“Four years ago, I started experiencing constant anxiety, to the point that I couldn’t sleep,” says 25-year-old Francisco Versa. “Basically, I put a lot of pressure on myself from the women with whom I had relationships. It was Wednesday masculinity, competition,” he continues.

Early adulthood began with this “almost obsession to be with women” and get the best. performanceto the point where he became very anxious whenever he had sexual relations with a woman.

“The peak was when I couldn’t sleep. My brain was always on and I started taking pills to help me sleep,” says Francisco.

In 2019, he decided to see a therapist rather than a psychologist because he thought it was only “for wimps”, but it wasn’t, and Francisco later figured it out.

Today, he wants to convey the same message, and to do so, he created the Ivory project in 2020, consisting of clothes and accessories with special messages that form a bridge to the necessary incentive for those in need of help.

“When I finally worked up the courage to ask for help, I was like, ‘Wow, I wish I had started sooner. That’s why I started this project. I lacked something that would motivate me to go to therapy earlier. clothes are meant to spread information,” he says.

But Ivory goes far beyond what is written in sweatshirts and accessories.

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Help that comes in order

“Everyone you know is fighting a battle you know nothing about.”

This is one of the messages recorded in t-shirts e sweats from ivory. It’s simple and affects everyone in their own way, but the focus of the Ivory team – also with a past or present marked by mental health issues – is not the phrases on the T-shirts, but what follows them.

“To say that mental health is talked about a lot is a lie. What I mean? When I hear the news that companies are very concerned about mental health or that it has become fashionable with COVID-19, it is all a lie. What people say is vague. Nobody tells stories. A person who is really bad, like I was, does not need to hear that he should go to the gym or eat well. He needs to hear a story like this.” .

Ivory’s next step is to create a space for sharing testimonies through Appendixjust to address this shortcoming. Until then, the project intends to function as anxiety And further to support in the field of mental health.

“For every order we have, a person receives Email mail to make an appointment. Because our goal is to really open doors, to do something that I didn’t have, ”says Francisco. “I feel like a lot of people buy ivory because they’re in bad condition, but they don’t want to take the next step to take care of themselves.”

If encouragement is not enough, an ivory sweater will be cozy and Email mail gives you the push you need to make an appointment with one of Ivory’s psychologists. All it takes is an Instagram post or an email.

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Sweaters and bags 100% organic cotton and mobile phone cases with phrases coined by Francisco Soares Ganzo and designs created by the whole team can be ordered at website.

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