Tuesday, January 19, 2021
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous
Financial Street - Latest Business News
No Result
View All Result
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous
Financial Street - Latest Business News
No Result
View All Result

AfDB announces $10b response as COVID-19 cases hit 10,000 in Africa

by Chika Onwuji
April 9, 2020
in Front Page
0
AfDB makes pitch for partnerships with Nordic businesses
0
SHARES
8
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp
  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

THE African Development Bank has announced the creation of COVID-19 Response Facility of up to $10bn for governments and the private sector to assist member states fight the coronavirus disease.

From the facility, Nigeria seeks $1bn to contain the spread of the pandemic.

READ ALSO

Senegal heavy fuel use hurting earth, says Fortesa boss

Lagos’ debt stock stands at N158bn

The bank stated from its headquarters in Abidjan, Cote d’Ivoire, that the facility was the latest measure to respond to the scourge and the institution’s primary channel for its efforts to address the crisis.

Read Also:

  • Angolan legal reform and job creation in AfricaAngolan legal reform and job creation in Africa
  • Strategic communications: The lifeline of effective nation-buildingStrategic communications: The lifeline of effective…
  • MultiChoice offers DStv Step Up, discount on GOtv MaxMultiChoice offers DStv Step Up, discount on GOtv Max

AfDB President, Akinwumi Adesina, said the package took into account the fiscal challenges many African countries were facing.

His words: “Africa is facing enormous fiscal challenges to respond to the coronavirus pandemic effectively. The African Development Bank Group is deploying its full weight of emergency response support to assist Africa at this critical time. We must protect lives. This facility will help African countries to fast-track their efforts to contain the rapid spread of COVID-19.”

The response entails $5.5bn for sovereign operations in AfDB countries, and $3.1bn for sovereign and regional operations for countries under the African Development Fund, the group’s concessional arm that caters for fragile countries. An additional $1.35bn will be devoted to private sector operations.

However, the World Health Organisation Regional Director for Africa, Dr. Matshidiso Moeti, said COVID-19 cases had hit 10,000 and accounted for 500 deaths on the continent.

In a statement on Wednesday in Maiduguri, Borno State, she noted that cases were initially confined to global capital cities, noting that a significant number of countries in Africa were now reporting incidents in multiple provinces.

close

Check your inbox or spam folder to confirm your subscription.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn

Tags: $10bAfDBAfricaCovid-19Nigeria

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Related Posts

Senegal heavy fuel use hurting earth, says Fortesa boss
Business & Economy

Senegal heavy fuel use hurting earth, says Fortesa boss

January 18, 2021
Lagos’ debt stock stands at N158bn
Business & Economy

Lagos’ debt stock stands at N158bn

January 15, 2021
GOODsoil VC invests $1m seed capital in Ghana’s Zeepay
Business & Economy

‘Green investments can generate 213m jobs in emerging markets’

January 14, 2021
CAC: N19bn generated in 2020 from registration fees
Business & Economy

CAC: N19bn generated in 2020 from registration fees

January 13, 2021
AfDB makes pitch for partnerships with Nordic businesses
Business & Economy

AfDB supports ‘Great Green Wall’ initiative with $6.5bn

January 12, 2021
Dangote leverages AfCFTA to create new trade routes
Business & Economy

Dangote leverages AfCFTA to create new trade routes

January 11, 2021
Next Post
Nigerian Customs earns N31.2bn at Lagos port

Nigerian Customs earns N31.2bn at Lagos port

RECENT STORIES

Consumers’ expectations showed negative trend in Q3

Buhari to inaugurate national oil centre – DPR

January 18, 2021
AFREWATCH petitions UN over toxic pollution in Zambia

AFREWATCH petitions UN over toxic pollution in Zambia

January 18, 2021
PIN opens registration for digital rights forum

PIN opens registration for digital rights forum

January 18, 2021
Senegal heavy fuel use hurting earth, says Fortesa boss

Senegal heavy fuel use hurting earth, says Fortesa boss

January 18, 2021
‘Billions At Play’ prescribes solutions for Africa's energy sector

‘Billions At Play’ prescribes solutions for Africa’s energy sector

January 18, 2021
Bring back our girls

#FixPolitics unveils school of politics, says initiative ‘not about 2023 election’

January 16, 2021
PIN condemns Uganda Internet shutdown

PIN condemns Uganda Internet shutdown

January 15, 2021

TRENDING

  • Senegal heavy fuel use hurting earth, says Fortesa boss

    Senegal heavy fuel use hurting earth, says Fortesa boss

    0 shares
    Share 0 Tweet 0
  • CIBN to hold seventh national economic outlook 

    0 shares
    Share 0 Tweet 0
  • #FixPolitics unveils school of politics, says initiative ‘not about 2023 election’

    0 shares
    Share 0 Tweet 0
  • ‘Billions At Play’ prescribes solutions for Africa’s energy sector

    0 shares
    Share 0 Tweet 0
  • Kuwait’s Al-Sumait prize calls for nominations

    0 shares
    Share 0 Tweet 0
Financial Street - Latest Business News

© Financial Street 2020. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • Markets & Companies
    • Stock Market
    • Companies
    • Appointments
    • Commodities
  • Business & Economy
    • Energy
    • Agricultural Economy
    • Insurance & Pensions
    • Aviation
    • Maritime
    • Road Transport
    • Financial Inclusion
    • Investment
    • Manufacturing
    • Consumer Goods
  • Innovation
  • MSME
  • Empire
  • Opinion
  • Cultural Currents
  • Features
  • AE Magazine
  • Corporate Rendezvous