AfDB Pledges $ 10 Billion

The situation is serious. While it is still too early to assess the health impact of the coronavirus, it is already known that the majority of the countries of the continent will suffer economically. On the front lines, the African Development Bank (AfDB) has decided to take action by taking several important measures. Latest initiative to date: the creation of a fund of 10 billion dollars which will help African countries to fight against the coronavirus. “Exceptional mobilization”, comment most of the African capitals, the day after this announcement. In detail, this “fund has $ 5.5 billion for sovereign operations in member countries of the Bank and $ 3.1 billion for sovereign and regional operations through the countries of the African Development Fund […] An additional $ 1.35 billion will be spent on private sector operations, “said a statement from the bank, headquartered in Abidjan. Both governments and private sector players can use it.

It should be emphasized that this envelope has the particularity of taking into account the budgetary difficulties currently encountered by many countries of the continent. Obliged to make budgetary adjustments, some have already asked for international aid. Nigerian President Mahamadou Issoufou called for a “Marshall Plan” for Africa while Ethiopian Prime Minister Abiy Ahmed asked the G20 in March to reduce the debt of the most vulnerable economies and (…)

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Migration – Akinwumi Adesina: “Creating 25 million jobs over ten years”
Africa: between the need to invest and the risk of over-indebtedness
Covid-19: Morocco releases $ 3 billion to the IMF
DRC: Vital Kamerhe remanded in custody
Receive the Le Point.fr newsletter