COVID-19: AfDB Approves $138m For Madagascar, Three Others
“Under the package, known as the Multi-Country COVID-19 Response Support Program , Malawi will receive a concessional loan of UA17.87 million and a grant of UA15.03 million; Madagascar, a concessional loan of UA30 million; Mozambique, a combined grant of UA30 million; and São Tomé & Príncipe, a grant of UA7.5 million,” the AfDB explained in a blog post on its website.
“The programme is financed through African Development Fund resources, the concessional window targeting low income countries, and was made possible by the robust backing of Bank shareholders to its 15Dr Josephine Ngure, Bank Acting Director General for Southern Africa was quoted as saying on the AfDB’s website that “We are delighted with the approval of this crucial cash injection to support the COVID response plans in Madagascar.
“Mozambique, Malawi and Sao Tome. During this unprecedented challenge, it is essential that Governments in the region act in a coordinated manner to protect the most vulnerable in society and set the foundation for a speedy post-pandemic recovery.”
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