The African Development Bank Group has announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. AfDB President Akinwumi Adesina said the package took into account the fiscal challenges that many African countries are facing. The African Development Bank Group is deploying its full weight of emergency response support to assist Africa at this critical time. This Facility will help African countries to fast-track their efforts to contain the rapid spread of COVID-19,” Adesina said. 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 Group’s concessional arm that caters to fragile countries.

Source: The North Africa Journal April 10, 2020 11:37 UTC