Bank allots $10 billion to Africa coronavirus response
April 8th, 2020 – The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility of $10 billion to government and the private sector to assist regional member countries in fighting the pandemic.
The facility is the latest measure taken by the bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis.
The facility entails $5.5 billion for sovereign operations in African Development Bank countries, and $3.1 billion for sovereign and regional operations for countries under the African Development Fund, the bank’s concessional arm that caters to fragile countries. An additional $1.35 billion will be devoted to private sector operations.
More…http://www.nanews.net/news/bank-allots-10-billion-to-africa-coronavirus-response/
Written by Nordic Africa News
Related Post
China releases a five-year strategy to...
China has released a plan that outlines goals for business growth, innovation, and the development environment in order to support the high-...
Southern Italy: Soaring Diesel Costs Halt...
Since mid-October, southern Italy has seen one of the largest protests in the transport sector in years. The protest began in Puglia and the...
IUE Opens a New Chapter: Celebrating...
The International University of Entreprenology held its 2026 Graduation Ceremony in Las Vegas, honoring the wisdom of lived experience and w...
