AU Covid-19 fund gets US$27,4m boost

Business Reporter
THE African Development Bank (AfDB) has approved US$27,4 million in grants to boost the African Union’s efforts to mobilise continental response to curb the Covid-19 pandemic.

Since its outbreak in China last December, Africa like the rest of the world is battling to contain the spread of the deadly disease.

In a statement, AfDB said it has through the African Union (AU), approved a US$27,4 million grant to help countries on the continent fight the pandemic. The approval follows a meeting of the extended Bureau of the AU Conference of Heads of State and Government with Africa’s private sector on April, chaired by South Africa President Cyril Ramaphosa who is the current chairperson of the AU. AfDB president Dr Akinwumi Adesina, who attended the meeting, pledged strong support for the AU Covid-19 initiative.

The AU Bureau meeting called for contributions to the African Union’s Covid-19 Response Fund established by the AU Commission in March 2020.

“With this financing package, we are reaffirming our strong commitment to a coordinated African response in the face of Covid-19.

“Most importantly, we are sending a strong signal that collectively, the continent can address the pandemic in Africa, which is straining health systems and causing unprecedented socio-economic impacts on the continent,” said Dr Adesina.

It is hoped that the bulk of the bank’s grant financing for this operation, about US$26,03 million, will help to strengthen the institutional capacity of the Africa Centres for Disease Control and Prevention (Africa CDC) to respond to public health emergencies across the continent.

A balance of US$1,37 million will be a contribution to AU’s Covid-19 Response Fund.