Concerned and worried over rising spate of Coronavirus in Sub-saharan Africa, the African Development Bank (AfDB) has disclosed its battle plan to fight the pandemic.
The pan African financial institution has said that it has responded swiftly to the needs of its member countries to curb the spread of the COVID-19 pandemic.
In a statement issued by the bank and seen by Nairametrics, it stated that the pandemic is forecast to cause Africa’s GDP to drop by between $22.1 billion and $88.3 billion.
It stated, “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.”
As of June 12, the Bank’s COVID-19 emergency packages have reached the continent’s five geographic regions.
Before the advent of the COVID-19 pandemic, West Africa was home to at least four of the continent’s fastest-growing economies, and it has felt the impact of the disease hard, as borders remain closed and economic and social distress deepens.
It has given Nigeria about 288.5 million euros, Senegal – 88 million euros, Côte d’Ivoire – 75 million euros, Cabo Verde – 30 million euros, ECOWAS – $22 million.
“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.”