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    Africa Development Bank Holds Virtual Meetings August 25-27 ; Election of President Key on Agenda

    Posted On 17 Aug 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Richard Adorsu-

    Photo Credit: African Development Bank

    NEW AFRICA BUSINESS NEWS (NABN) Accra, Ghana– African Development Bank (AfDB) Group will hold its 2020 Annual Meetings virtually, from 25-27 August 2020. These will comprise statutory meetings of the Board of Governors. According to the bank, a major agenda item of this year’s annual meetings will be the election of a president.

    Meanwhile, the Board of Directors of the African Development Fund (ADF) last month approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation.

    The grant from the ADF, the concessional arm of the African Development Bank, will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness and Response Plan, and Coronavirus Alleviation Program.

    Specifically, the funds will help to upgrade the capacity of healthcare facilities to isolate, diagnose and care for patients, and provide more test kits, pharmaceuticals, equipment and beds. It will also ensure adequate personal protective equipment (PPE) for health workers and support financial incentives and an insurance package for health and allied professionals.

    Ghana ranks fourth in COVID-19 infections in Africa after South Africa, Egypt and Nigeria. As of 9 August 2020, the West African nation had recorded 41,003 cases of the disease, with 38, 330 recoveries and 215 deaths.

    “Overall, the objective is to help contain the spread of the virus, expand testing and ease the impact of the virus on social and economic life, through measures aimed at protecting jobs, sustaining livelihoods and supporting small businesses,” said Marie-Laure Akin-Olugbade, the Bank’s Director General for West Africa.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    The ADF grant is a Crisis Response Budget Support operation, disbursable in a single tranche under the Bank’s $10 billion COVID-19 Response Facility. Under Ghana’s COVID-19 response program, all affected persons will receive free treatment and free water supply. Micro, Small and Medium enterprises (MSMEs) will benefit from a soft loan scheme with one-year moratorium and two-year repayment period. The private sector will also benefit from a tax freeze and refund, direct subsidies and a guarantee fund, enabling businesses to access bank credit.

    The program also aims to increase the percentage of the population tested from one percent to three percent by the end of December 2020, boost the number of points of entry reporting suspected cases of COVID-19 from 1 to 14 by the end of September 2020, and increase designated treatment centers with adequate intensive care facilities to 100% by end December 2020.

     

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    For New Africa Business News Richard Adorsu Reports,  Africa Correspondent

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    Email: Info@newafricabusinessnews.com

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    New Africa Business News Staff Correspondent
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    14 Comments

    1. Msizi August 17, 2020 at 2:26 am Reply

      Bravo to African Development Bank. We are happy of your projects in the Continent. Making great difference. Thank you for reporting. Johannesburg South Africa. Msizi

      • New Africa Business News, Staff Correspondent August 17, 2020 at 2:29 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Baniti August 17, 2020 at 2:41 am Reply

      This African Development Bank and the vision of one Africa and united continent, with one inter together economic. Has being making great progress. I love the bank. Cairo Egypt. Baniti

      • New Africa Business News, Staff Correspondent August 17, 2020 at 2:42 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Elizabeth August 17, 2020 at 2:47 am Reply

      Regular reader of your online newspaper. Thank you for signing me to the online newspaper. London England. Elizabeth

      • New Africa Business News, Staff Correspondent August 17, 2020 at 2:48 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Fifi August 17, 2020 at 2:55 am Reply

      Our President the great Nana and of course ADB are doing great job to handle these imported virus. Love reading your online newspaper. Thank you to the Editor, Journalist and the whole team. Accra Ghana. Fifi

      • New Africa Business News, Staff Correspondent August 17, 2020 at 2:57 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Gorata August 17, 2020 at 3:05 am Reply

      The bank has being investing lot of money through out the Continent, for developments and we are starting to see where Africa greatly is heading, is for the best. Orapa, Botswana. Gorata

      • New Africa Business News, Staff Correspondent August 17, 2020 at 3:06 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Phila August 17, 2020 at 3:11 am Reply

      I follow your newspaper on face book. Thank you for the news. Pretoria South Africa. Phila

      • New Africa Business News, Staff Correspondent August 17, 2020 at 3:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Jamie August 17, 2020 at 3:16 am Reply

      Is a good idea for the bank’s annual meeting this year be done virtually. Good Leadership. Thank you for reporting. Jamie in Harare, Zimbabwe

      • New Africa Business News, Staff Correspondent August 17, 2020 at 3:17 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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