IMF, World Bank say Africa to get $57 billion from official creditors in 2020

The International Monetary Fund and World Bank said on Friday that official creditors have mobilized up to $57 billion in loans and grants for Africa in 2020 to aid the continent’s response and recovery from the coronavirus pandemic.

In a joint statement issued after a videoconference with African leaders, the World Bank and IMF said the total includes more than $18 billion from each of the two institutions for front line health services, support the poor and vulnerable and to keep economies afloat amid the worst economic downturn since the 1930s.