AfDB announces $10 bln COVID-19 response facility - statement
- Country:
- South Africa
The African Development Bank (AfDB) announced a $10 billion COVID-19 response facility on Wednesday aimed at helping the continent confront the pandemic, which is already wreaking havoc on the region's economies.
In a statement, the Abidjan-based bank said the emergency credit facility includes $5.5 billion for sovereign operations in AfDB countries and $3.1 billion under the African Development Fund, the bank's concessional arm, for fragile countries.
It will provide an additional $1.35 billion for private sector operations.
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