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
Gabon allocates $6.9 million to acquire 35% stake in ABG Move aims to stabilize firm and protect 800 jobs Company faced cash issues,...
DR Congo hires Rothschild to support international market entry €2 million, 12-month contract signed March 24, 2026 Deal linked to...
$20 million loan to support lending to small businesses At least 25% of funds allocated to women-led enterprises Financing aims to ease major...
Ci Gaba VC Limited secures $34.9 million in its first close, targeting a final $90 million (1 billion GHS). The fund-of-funds invests in...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
03

UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...

UBA, British International Investment explore Africa trade finance deal
04

Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime ag...

Ghana pushes UN recognition of slave trade as crime against humanity
05

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
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.