{"id":468033,"date":"2020-06-13T16:56:42","date_gmt":"2020-06-13T15:56:42","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=468033"},"modified":"2020-06-13T16:56:42","modified_gmt":"2020-06-13T15:56:42","slug":"african-development-bank-covid-19-response-moving-from-commitment-to-action","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2020\/06\/13\/african-development-bank-covid-19-response-moving-from-commitment-to-action\/","title":{"rendered":"African Development Bank COVID-19 response: moving from commitment to action"},"content":{"rendered":"
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The African Development Bank has responded swiftly to the needs of its member countries during the ongoing COVID-19 pandemic.<\/span><\/p>\n

The Bank\u2019s operations have continued to run smoothly since the first cases appeared in early March, despite the wide range of lockdowns and measures imposed by governments to flatten the curve.<\/span><\/p>\n

The COVID-19 pandemic is forecast to cause Africa\u2019s GDP to drop by between $22.1 billion and $88.3 billion.<\/span><\/p>\n

African countries, with the experience of having fought off Ebola, are working to adapt to this new threat and looking to the Bank for an effective, multilateral response to the crisis.<\/span><\/p>\n

As of June 12, the Bank\u2019s\u00a0COVID-19 emergency packages have reached the continent\u2019s five geographic regions.<\/span><\/p>\n

West Africa<\/span><\/strong><\/p>\n

Before the advent of the COVID-19 pandemic, West Africa was home to at least four of the continent\u2019s fastest-growing economies, and it has felt the impact of the disease hard, as borders remain closed and economic and social distress deepens.<\/span><\/p>\n

Gambia, Mali and Niger will benefit from an ECOWAS support package to bolster national health systems in response to the pandemic. Much of the funds to this region will seek to address shortages in personal protective equipment (PPE), ventilators and other emergency equipment. The support will also enable governments to provide shortfall cash to the millions of people who have been affected by mass layoffs or are unable to work because of lockdowns.<\/span><\/p>\n