Business News of Thursday, 10 September 2020

Source: afdb.org

AfDB approves US$27.33 million to ramp up AU’s coronavirus response initiative

The approval follows a meeting of the extended Bureau of the Conference of Heads of State The approval follows a meeting of the extended Bureau of the Conference of Heads of State

The African Development Bank’s Board of Directors on Wednesday approved US$27.33 million in grants to boost the African Union’s (AU) efforts to mobilize a continental response to curb the COVID-19 pandemic.

The approval follows a meeting of the extended Bureau of the Conference of Heads of State and Government with Africa’s private sector on 22 April 2020, chaired by Cyril Ramaphosa, President of South Africa and chairperson of the AU, at which the Bank’s President, Akinwumi Adesina, pledged strong support for the AU’s COVID-19 initiative.

The AU Bureau meeting called for contributions to the African Union’s COVID-19 Response Fund established by the AU Commission chairperson, Mr. Moussa Faki Mahamat, in March 2020.

Speaking after the Board approval of this operation, President Adesina said: “The African Development Bank will strongly support Africa to get through the COVID-19 pandemic and build back, strongly and smartly.

“The Bank’s financial support to the Africa Centers for Disease Control, reaffirms our strong commitment to regional efforts to tackle the pandemic being coordinated by the African Union. Africa needs a well-financed Africa Centers for Disease Control, today and for the future.”

The Bank’s grant financing will support the Africa Centers for Disease Control and Prevention (Africa CDC) in providing technical assistance and building capacity for 37 African Development Fund (ADF) eligible countries, particularly the Transition States, to combat the COVID-19 pandemic and mitigate its impact. The ADF is the Bank’s concessional window.

Sourced from the ADF’s Regional Operations/Regional Public Goods envelope and the Transition Support Facility, these two grants will support the implementation of Africa CDC’s COVID-19 Pandemic Preparedness and Response Plan through strengthening surveillance at various points of entry (air, sea, and land) in African countries; building sub-regional and national capacity for epidemiological surveillance; and ensuring the availability of testing materials and personal protective equipment for frontline workers deployed in hotspots.

The operation will also facilitate collection of gender-disaggregated data and adequate staffing for Africa CDC’s emergency operations center.

At the beginning of February 2020, only two reference laboratories—in Senegal and in South Africa—could run tests for COVID-19 on the continent.

The Africa CDC, working with governments, the World Health Organization, and several development partners and public health institutes, have increased this capacity to 44 countries currently.

Despite this progress, Africa’s testing capacity remains low, with the 37 ADF-eligible countries accounting for only 40% of completed COVID-19 tests to date.

“Our response today and support to the African Union is timely and will play a crucial role in helping Africa look inward for solutions to build resilience to this pandemic and future outbreaks,” said Ms. Wambui Gichuri, Ag. Vice President, Agriculture, Human and Social Development.

This support will complement various national and sub-regional operations financed by the African Development Bank under its COVID-19 Response Facility to support African countries to contain and mitigate the impacts of the pandemic.