By BUUMBA CHIMBULUTHE African Development Bank (AfDB) will unveil a financial assistance package for member states including Zambia to lessen the economic and social impact of the coronavirus, as it approves US$2 million emergency assistance for the World Health Organisation (WHO).AfDB indicated that it would soon unveil a financial package to enable governments and businesses undertake flexible responses to lessen the economic and social impact of the pandemic.“It is estimated that Africa will require billions of dollars to cushion the impact of the disease as many countries scramble together contingency measures, including commercial lockdowns, in desperate efforts to contain it,”AfDB said in a statement.Last Thursday, the institution raised an US$3 billion in a three-year social bond, the proceeds from which will go to help alleviate the economic impact of the pandemic.It is the largest dollar-denominated social bond launched in international capital markets to date.Additionally, AfDB on Tuesday this week approved $2 million in emergency assistance […]
AfDB crafts COVID-19 fight package
