US launches COVID-19 recovery financing for sub Saharan Africa - News Summed Up

US launches COVID-19 recovery financing for sub Saharan Africa


The US Government has created a multibillion regional fund that targets small and medium sized companies together with projects that support economic recovery in the wake of COVID-19. On the other hand, the project specifically must be focused on activities directed at supporting economic recovery efforts in sub-Saharan Africa amid the Covid-19 pandemic. Also upon acceptance, the project will receive funding for not more than 60 per cent of the total financing needs. To achieve its objectives, DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world. With Sub-Saharan Africa as a priority, the bank has approximately Sh870 billion invested across more than 300 projects.


Source: Standard Digital October 26, 2020 07:52 UTC



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