Global Response Newsfeed

IMF Executive Board Approves a US$50 Million Disbursement to Liberia to Address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund, today, approved the disbursement of SDR36.17 million (US$50 million; 1.7 percent of GDP) to be drawn under the Rapid Credit Facility (RCF). This, together with debt relief approved in April 13, will help meet Liberia’s urgent balance of payment needs, mostly stemming from fiscal needs necessary to respond to the pandemic.”

via IMF

Egypt: IMF Reaches Staff-Level Agreement on a 12-Month US$5.2 Billion Stand-By Arrangement

“Egyptian authorities and the IMF team have reached staff-level agreement on economic policies that could be supported by a 12-month Stand-By Arrangement (SBA). The SBA, with requested access of SDR 3.8 billion (equivalent to around US$5.2 billion), supports the authorities’ efforts to maintain macroeconomic stability amid the COVID-19 shock while continuing to advance key structural reforms.”

via IMF

The Mastercard Foundation MSE’s Resilience Facility to Support Businesses in Ethiopia Affected by COVID-19

“The Jobs Creation Commission of Ethiopia, the Mastercard Foundation and First Consult, announced the creation of the Mastercard Foundation MSE’s Resilience Facility. This is an emergency program that will support micro and small-sized enterprises (MSEs) and start-ups in Ethiopia during the economic downturn caused by the COVID-19 pandemic.”

via Mastercard Foundation

Africa CDC and Mastercard Foundation Partner to Deliver 1 Million Test Kits, Deploy 10,000 Community Health Workers for COVID-19 Response

“These funds will be used to purchase 1 million test kits, as well as train and deploy 10,000 community healthcare workers and 80 surveillance rapid responders to support contact tracing as well as strengthen the Africa CDC’s capacity to oversee a continental response to the pandemic. Africa CDC will undertake these COVID-19 response measures in partnership with the African Field Epidemiology Network.”

via Mastercard Foundation

Community leaders fight COVID-19 alongside UNDP in Sudan

“In Sudan, UNDP is working with trusted local partners to respond and rebuild better as the ongoing pandemic threatens to reverse decades of progress in tackling poverty and inequality.”

via UNDP

IMF Executive Board Approves US$143 Million Disbursement to Sierra Leone to Address the COVID-19 Pandemic

“The Executive Board of the International Monetary Fund today approved the disbursement of SDR 103.7 million (US$143 million or 50 percent of quota) under the Rapid Credit Facility to Sierra Leone to help meet the urgent balance of payments and fiscal needs stemming from the COVID‑19 pandemic.”

via IMF

COVID-19: African Development Bank mobilizes $22 million for low-income ECOWAS countries

“The Bank is making $22.4 million available for the project, approved by the Board on May 22. Part of the funding, $9.55 million, will provide screening tests, laboratory equipment, ventilators and personal protective equipment for medical personnel in the three countries. The remaining $12.83 million will be used to strengthen and integrate the health systems of Gambia, Mali and Niger to better address the pandemic.”

via AfDB

African and global philanthropists team-up to manufacture COVID-19 medical equipment in Africa

“Strive Masiyiwa co-founder of Higherlife Foundation, who has recently been appointed as an African Union Special Envoy to mobilise the private sector response to the COVID-19 pandemic, is leading a private partnership to start local manufacturing of much needed medical equipment for the African continent. Working with fellow philanthropists Sir Richard Branson and Jeff Skoll, the group have identified two solutions which will be manufactured in South Africa.”

via Skoll Foundation

UN Secretary-General: ‘Global solidarity with Africa is an imperative’

“As COVID-19 spreads across the continent, Africa has responded swiftly to the pandemic, and as of now reported cases are lower than feared. Even so, much hangs in the balance.”

via UN News

The IMF’s Support for Uganda’s Health Care, Most Vulnerable, Businesses, and Stability

“The coronavirus pandemic has hit Uganda’s economy and population severely. The country faces a significant contraction in economic activity, including a drop in domestic demand, supply disruption, and a decline in foreign direct investment and remittances.”

via IMF