Public Management

Malawi to receive $45.07 million for national COVID-19 emergency response from the African Development Bank

Malawi to receive $45.07 million for national COVID-19 emergency response from the African Development Bank
Thursday, 23 July 2020 16:38

Malawi will receive $45.07 million to finance the government’s response to the health, social and economic impacts of the COVID-19 pandemic, following a decision by the Board of Directors of the African Development Fund (ADF) held Wednesday.

The package comprises a loan of $24.48 million, and a grant of $20.59 million as direct budget support, and complements an earlier sum of $8.9 million to six countries in the region, including Malawi, under the Bank’s COVID-19 Response grants to the Southern African Development Community (SADC) countries last month.

The budget support intervention, will help boost the Malawi National COVID-19 Preparedness and Response Plan that has been developed with multi-stakeholders including government, development partners and non-government organizations. The Bank’s support aims to protect lives; strengthen public health systems; protect livelihoods through enhanced social protection systems; foster economic resilience and protect jobs.

“The Bank’s support to Malawi’s COVID-19 Response Plan will help to cushion the economy from the negative impact on fiscal and current account balances, hence consolidating Malawi’s recovery efforts during this unprecedented time of COVID-19 pandemic,” said Acting Bank Country Manager, Eyerusalem Fasika. “The support will contribute towards laboratory and diagnostic capacity to test, trace, isolate and treat COVID-19 cases, strengthen the COVID-19 case management systems, train frontline healthcare workforce, and restore services disrupted by COVID-19, particularly for patients with underlying health conditions,” she added.

The support to Malawi is part of the multi-country COVID-19 support package by the Bank that includes $41.1 million to Madagascar, $41.1 million to Mozambique and $10.23 million to Sao Tome and Principe. The processing of this multi-country program was combined into one group to ensure efficiency in the preparation of the Bank’s assistance to Regional Member Countries.

Malawi declared a State of Disaster on 20 March 2020 and launched its National COVID-19 Preparedness Response Plan on 8 April. As of 21 July 2020, Malawi had recorded 3,149 confirmed cases of COVID-19, with 1,256 recoveries and 71 deaths.

1 africandev

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
BGFIBank Gabon accounted for 71.29% of all new bank credit in Gabon in the first quarter of 2025. No other bank operating in Gabon exceeded a 10%...
BII commits $40 million as cornerstone investor in $1 billion climate fund Allianz-led blended fund targets renewables, transport,...
AfDB raises A$1 billion via five-year Kangaroo social bond AAA-rated bond priced at 4.6%, strong demand topped A$2.6 billion Proceeds to...
BICEC ranked first in Cameroon for new credit issuance with a 17.60% market share in Q1 2025. Banks increased total new lending by 28.72%...
Most Read
01

Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...

Togo accounts for 16.2% of cross-border bank financing in WAEMU
02

Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...

Microfinance: Deposits in Togo Rise 2.7% in Second Quarter of 2025
03

Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...

Stripe-Owned Paystack Enters Nigerian Microfinance Banking Via Acquisition
04

Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...

Amazon wins approval to enter Nigeria’s satellite internet market
05

Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...

Tether and UNODC Launch Digital Asset Cybersecurity Initiative in Africa
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.