300 million euros to African coronavirus response

August 7th, 2020 – The European Investment Bank (EIB), the lending arm of the European Union, and the African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, are directing EUR 300m of financing to support the resilience and recovery of African nations in response to the COVID-19 pandemic.

The funds will ensure businesses across the continent have the working capital to sustain jobs and maintain vital imports.

It also earmarks at least a quarter of the capital for climate change mitigation and adaptation, helping Africa maximize the opportunities of a green recovery.

The support package is the first accelerated COVID-19 response for the entire sub-Saharan region under the EIB’s Team Europe initiative—a EUR 6.7bn package to help the most vulnerable and exposed countries respond to the immediate health crisis, mitigate social and economic impacts, and build resilience for the future.

More…http://www.nanews.net/news/300-million-euros-to-african-coronavirus-response/

Written by Nordic Africa News