COVID-19: Ghana receives $69 million from the African Development Bank

COVID-19: Ghana receives $69 million from the African Development Bank

- Ghana has received $69 million from the African Development Bank (AfDB) to combat the coronavirus

- The fund was approved on Friday, July 24, 2020, and is expected to help deal with a number of challenges

- AfDB stated that there are three main objectives it expects Ghana to achieve

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The African Development Bank (AfDB) has approved a $69 million grant to Ghana to combat the outbreak of the coronavirus.

The decision was reached on Friday, July 24, 2020, and is intended to help reduce the socio-economic impact of the coronavirus on Ghana.

The grant was received from the African Development Fund (ADF), which is the concessional arm of the AfDB.

COVID-19: Ghana receives $69 million from the African Development Bank
AfDB President, Akinwumi Adesina Source:
Source: UGC

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A report shows that the fund will be channeled towards Ghana’s COVID-19 Emergency Preparedness and Response Plan, and the Coronavirus Alleviation Programme (CAP). understands that the focus will be on the upgrade of the capacities of health facilities to help with diagnosis and care for patients.

It will also be used for the provision of testing kits, pharmaceuticals, equipment, and beds. The funds will also help ensure an adequate supply of personal protective equipment for health workers.

According to the AfDB’s Director-General for West Africa, Marie-Laure Akin-Olugbade, the plan is to ensure that three objectives are achieved.

The AfDB is optimistic that the spread of the virus can be contained and testing can be expanded.

The Bank also expressed optimism about the easing of the impact of the virus on social and economic life. This would be achieved through measures aimed at protecting jobs, sustaining livelihoods, and supporting small businesses.

In other news, former minister of finance, Seth Terkper, has called on the government to come clean on the various funds provided for the fight against the coronavirus.

His call came ahead of a mid-year budget review which was presented to Parliament by the current minister of finance, Ken Ofori-Atta.

The government, in a bid to combat the outbreak of COVID-19, accessed funds from different sources such as the International Monetary Fund, World Bank, Stabilization Fund, and Bank of Ghana.

READ ALSO: COVID-19 would lead to economic challenges in 2020 and beyond - Ofori-Atta

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