AfDB may offer additional funding to help Egypt amid COVID-19 fallout
The African Development Bank Group is working on offering additional funding to back the efforts made by the Egyptian government to cushion the impacts of the coronavirus pandemic on citizens and the national economy according to Country Manager, Malinne Blomberg.
She said the bank exerts its utmost efforts to assist African states during the current coronavirus crisis.
The bank’s board of directors will soon make a decision about providing this funding to Cairo, she said, adding that the AfDB also supports funding requirements for its private sector clients during such volatile conditions.
Blomberg noted that an agreement would soon be signed with the Egyptian government on emergency grant funding worth $500,000 for the categories harmed by COVID-19.