AfDB probes offering additional funding to help Egypt cushion COVID-19 impacts: official

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Fri, 05 Jun 2020 - 09:53 GMT

The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. - Reuters

The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. - Reuters

CAIRO - 5 June 2020: Country Manager of the African Development Bank Group (AfDB) Malinne Blomberg said the bank exerts its utmost efforts to assist African states during the current coronavirus crisis.

In statements to MENA, Blomberg said the AfDB 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.

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.

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