Badea releases $ 100 million for Africa
The Arab Bank for African Development (Badea) is to release $ 100 million for sub-Saharan Africa to manage the coronavirus crisis. The landmark decision was released on Tuesday March 24.
To help the 44 countries of sub-Saharan Africa to cope with the Covid-19 coronavirus pandemic, Badea has decided to allocate $ 100 million to them. It is the first time that this financial institution, created in 1975, takes the initiative on an event related to public health. The allocation of this envelope will be at the request of countries, as needed.
This attitude contrasts with that of 6 years ago, when the Ebola epidemic hit West Africa. Badea had not released any pennies to help the affected countries. So why this mobilization today against the coronavirus pandemic?
Change of strategy
According to an official of the Arab Bank for Development in Africa, the institution recently adopted a new strategy, to align with the 2030 development goals decided by some countries, as well as the African Union’s agenda 2063. Badea usually finances infrastructure projects, such as road construction, especially in landlocked countries, projects in education and health, and in recent years in the energy sector.
Like other institutions, if the coronavirus pandemic intensifies, Badea remains open to new participation in the international response in sub-Saharan Africa.