Public Management

African Development Fund approves COVID-19 Response grants for six Southern African countries and São Tomé & Príncipe

African Development Fund approves COVID-19 Response grants for six Southern African countries and São Tomé & Príncipe
Thursday, 25 June 2020 21:38

The Board of Directors of the African Development Fund on Tuesday approved nearly $8.9 million in grant funding to bolster COVID-19-related control measures in six Southern African Development Community (SADC) countries. Separately, the Board approved $683,000 in grants to São Tomé & Príncipe, to support the two-island nation’s response to the pandemic and its impacts. The grant funding comes under the Bank’s COVID-19 Response Facility.

The funds will facilitate the procurement of laboratory and medical supplies, including testing kits, personal protective gear and non-invasive ventilators in Lesotho, Malawi, Madagascar, Mozambique, Zambia and Zimbabwe, all SADC nations. The SADC Secretariat is the recipient and the implementing agency of the grant.

The financing will reinforce the SADC ’s capacity to coordinate pandemic response measures, including surveillance and sensitization in the six beneficiary countries.

The SADC countries and São Tomé & Príncipe have inadequate resources and capacity to effectively manage the COVID-19 pandemic, which has put a strain on already fragile health systems in the countries. “As a result, these countries are now struggling to respond effectively to the fast-evolving situation posed by the COVID-19 pandemic,” the Bank noted.

Although the spread of COVID-19 has been slow in Africa, it continuous to steadily spread through the continent, leaving in its wake disruptions and hardship caused by economic lockdowns.

The pandemic is projected to have a substantial economic impact on the SADC member countries. For instance, real GDP in all the SADC countries, except Zimbabwe, is forecast to contract in 2020.

The approved project aligns with two of the Bank’s High Five priority areas: improving the quality of life for the people of Africa and integrating Africa, as well as the SADC Disaster Preparedness and Response Mechanism to fight disasters and pandemics.

The 16-nation SADC region had recorded around 120,000 COVID-19 cases out of a continent-wide total of 325,000 cases as of 24 June 2020. Reported cases in São Tomé and Príncipe stood at about 700, in a population of around 211,000 people.

logo BAD

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Kenya’s foreign exchange reserves increased to $14.59 billion on March 5, up from $12.53 billion a week earlier. The reserves now...
FCMB Group has raised capital to meet the Central Bank of Nigeria’s new requirements. The recapitalization combined a public share offer and a partial...
IFC plans a guarantee facility of up to $50 million for Nairobi-based reinsurer ZEP-RE. The mechanism aims to strengthen the company’s credit...
An IMF delegation completed a 10-day mission in Libreville to review Gabon’s economic situation. The institution welcomed recent reforms but urged...
Most Read
01

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
02

The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...

BCEAO Cuts Key Rate to 3.00% as WAEMU Faces Deflation
03

Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...

Nigeria Advances Banking Reform With Strong Recapitalization Progress
04

EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...

EIB Commits €1 Billion to Renewable Energy Under Africa’s “Mission 300” Initiative
05

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
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.