Covid-19 and Adaptation Finance: Risks, Opportunities and Recommendations for Governments and Development Finance Institutions

The Covid-19 pandemic, as well as taking a huge toll on human lives and health, represents the greatest shock to the global economy in almost 100 years. “The Great Lockdown” has led to major reductions in both production and consumption, with the IMF’s global growth forecasts for 2020 being cut to -4.9%, an 8% fall from 2019. Some countries are already seeing record unemployment and the ILO estimate that working hour reductions will take place equivalent to 305 million jobs, with 1.6 billion informal economy workers suffering damage to their earning capacity.

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