{"id":468214,"date":"2020-08-12T14:15:28","date_gmt":"2020-08-12T13:15:28","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=468214"},"modified":"2020-08-12T14:15:28","modified_gmt":"2020-08-12T13:15:28","slug":"islamic-development-bank-and-badea-continue-to-stand-with-acbf","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2020\/08\/12\/islamic-development-bank-and-badea-continue-to-stand-with-acbf\/","title":{"rendered":"Islamic Development Bank and BADEA continue to stand with ACBF"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>As the impact of the COVID-19 pandemic affects ACBF\u2019s ability to function at full capacity, the Islamic Development Bank (IsDB) and the Arab Bank for Economic Development in Africa (BADEA) have reiterated their determination to work with the African Capacity building Foundation (ACBF) to accompany African countries in the fight against the Coronavirus pandemic and its aftermath.<\/p>\n<p>The commitment to support African countries which are member states and beneficiaries of both banks was communicated during the ACBF\u2019s virtual High-Level Brainstorming Session. At least half of African countries are reportedly members of the IsDB.<\/p>\n<p>Senior Regional Coordinator of Technical Cooperation in Africa, Mr. Sameh HUSSEIN said the Bank had set aside $2.3 billion to be given as concessionary loans to member countries, to fight the COVID-19 pandemic. The Bank also intends to partner with stakeholders that include the ACBF in three action areas: capacity development and networking of African laboratories, production of peer reviewed protocols \u00a0and sharing of practical experiences.<\/p>\n<p>\u201cThe IsDB has organized online training on preparedness and response to the pandemic for 5,000 African health workers (covering testing, contact tracing, and patient management). The Bank will continue the training program for the next several months and it is relying on ACBF\u2019s expertise in delivering these trainings,\u201d said. Mr. Hussein.<br \/>\nOn the other hand, Dr. Tshepelayi KABATA, Technical Advisor in the Office of the Director-General of BADEA, said the Bank had acted swiftly to set up a $100 million Emergency Fund for African countries to fight the health crisis and its economic fall-out. BADEA committed to continue working with ACBF to assist countries to develop strong proposals for \u201cbankable projects\u201d to be funded during and after the pandemic.<br \/>\n\u201cWe have seen many countries struggling to prepare their responses for both the health and economic crises. Some think it is business as usual and have thus neglected the health aspect while pursuing the economic dimension. Nevertheless, we know that economic recovery will not happen until we solve the health problem. In that respect, ACBF can play a key role now and in the future,\u201d Dr. Kabata said.<br \/>\nHe said the Bank would finance four key priorities, being; projects from the public sector, such as infrastructure; projects from the private sector, including trade financing and projects from the agricultural sector, most specifically agricultural value chains, as well as SMEs.<br \/>\nThe two Banks \u00a0communicated their confidence in the ACBF to play a key role in enabling countries to produce strong proposals and projects that can help their SMEs recover from the crisis.<\/p>\n<p>Prof. Emmanuel NNADOZIE, ACBF\u2019s Executive Secretary thanked the Banks, pledging ACBF\u2019s readiness to play its role in the highlighted areas. \u201cLet me assure you that the partnership will get even stronger now that there is an emergency situation,\u201d the Executive Secretary said.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>As the impact of the COVID-19 pandemic affects ACBF\u2019s ability to function at full capacity, the Islamic Development Bank (IsDB) and the Arab Bank for Economic Development in Africa (BADEA) have reiterated their determination to work with the African Capacity building Foundation (ACBF) to accompany African countries in the fight against the Coronavirus pandemic and<\/p>\n","protected":false},"author":536282,"featured_media":468215,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12591,12040],"tags":[12152,14664],"class_list":{"0":"post-468214","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-feature","8":"category-international-institutions","9":"tag-badea-en","10":"tag-islamic-development-bank","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Islamic Development Bank and BADEA continue to stand with ACBF - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financialafrik.com\/en\/2020\/08\/12\/islamic-development-bank-and-badea-continue-to-stand-with-acbf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Islamic Development Bank and BADEA continue to stand with ACBF\" \/>\n<meta property=\"og:description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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