The International Monetary Fund has said it could grant Guinea, Liberia and Sierra Leone –the countries worst-hit by the Ebola epidemic- an additional $127 million to help them deal with the crisis that has caused severe human and economic devastation leaving nearly 2500 dead, over 4000 infected, and means of livelihood shattered.

Under the proposed grant, Guinea would get a $40 million loan, Liberia $48 million and $39 million for Sierra Leone. The countries’ economic growth has been battered by the epidemic especially in the agriculture, mining and the services sectors.

IMF says the funds would help cover an estimated $300 million financing gap in the West African countries over the next six to nine months when the impact of the outbreak will be most acute. The funds however, are yet to be approved by IMF’s executive board.

The fund also urged countries and multilateral agencies to provide budget support for the three countries. According to an IMF official, at least 40 percent of the financing needs of the Ebola-hit remain unfilled based on pledges so far, though the figures are preliminary.

The African Development Bank (AFDB) had earlier in the week disclosed that it is willing to provide a grant of $150 million to Guinea, Liberia and Sierra Leone to help them balance their public finances on the condition that they must first show that they are doing everything possible to improve their health systems.

IMF’s proposed funds would however, represent an expansion of the three countries’ current loan programs. Guinea already has a $200 million program from the IMF while Liberia is getting about $80 million from the fund and Sierra Leone has an IMF program of about $96 million.

Stating that the three countries had requested additional IMF support to help cover the acute financing needs they face, Managing Director Christine Lagarde described the Ebola outbreak as “a severe human, social and economic crisis that requires a resolute response from the international community”.