The Board of Directors of the African Development Fund (ADF) have approved grants totaling $9.52 million to strengthen responses to the COVID-19 pandemic in East Africa and the Horn, and in the Comoros.
The grant, approved on 26 June, is part of the $10 billion COVID-19 Rapid Response Facility (CRF) approved by the Board of Directors in April 2020 and complements the Bank’s direct support to regional member countries across the continent.
The Board of Directors of the African Development Bank has approved a 100.5 million euros loan to the government of Gabon as budget support to mitigate against the effects of the COVID-19 outbreak.
The loan will support the central African nation’s Budget Support Programme in Response to the COVID-19 Crisis or PABURC, which aims to strengthen the health system and mitigate the socio-economic impact of the pandemic on households and businesses.
The Board of Directors of the African Development Fund on Tuesday approved nearly $8.9 million in grant funding to bolster COVID-19-related control measures in six Southern African Development Community (SADC) countries. Separately, the Board approved $683,000 in grants to São Tomé & Príncipe, to support the two-island nation’s response to the pandemic and its impacts. The grant funding comes under the Bank’s COVID-19 Response Facility.
The African Development Institute of the African Development Bank will host a virtual seminar on Wednesday, 29 April 2020 to develop responses to macroeconomic policy challenges facing Africa nations in the wake of the COVID-19 pandemic.
Like elsewhere, African countries are not spared the devastating impacts of the COVID-19 pandemic on their national health systems, economies, trade, cultures, societies and livelihoods. The public and private sectors, individuals and communities are struggling to respond to the pandemic amid commercial lockdowns and disruption of income sources.
The African Development Bank joins the global community in celebrating 50 years of Earth Day on the theme “Climate Action”, notwithstanding the disruptions by the current COVID-19 pandemic. The combination of COVID-19 pandemic and enhanced climatic threats exacerbates Africa’s vulnerabilities and developmental challenges.
The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility 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. It provides up to $10 billion to governments and the private sector.
Akinwumi Adesina, President of the African Development Bank Group, said the package took into account the fiscal challenges that many African countries are facing.
During World Health Worker Week 2020 (5-11 April), the African Development Bank joins the global community to celebrate and recognise the contributions of health workers, including nurses and midwives, on the frontlines of the ongoing international response to the COVID-19 pandemic.
The African Development Bank’s “Fight Covid-19” social bond, the largest social bond to date to be issued in the capital markets, listed on London Stock Exchange on Friday 3 April 2020, and is now available through its Sustainable Bond Market.
The listing marks an important milestone as the Bank launches its first bond on London Stock Exchange.
The over-subscribed transaction, which attracted $4.6 billion of interest in the book and raised an exceptional $3 billion, was launched to alleviate the impact of Covid-19 on Africa’s economies and livelihoods.
The Board of Directors of the African Development Bank on Tuesday approved $2 million in emergency assistance for the World Health Organization (WHO) to reinforce its capacity to help African countries contain the COVID-19 pandemic and mitigate its impacts.
The grant, which is in response to an international appeal by the WHO, will be used by the world body to equip Regional Member Countries to prevent, rapidly detect, investigate, contain and manage detected cases of COVID-19.
The African Development Bank (AAA) has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies.