Posted by: tdb September 30, 2020 No Comments

TRADE AND DEVELOPMENT BANK DONATES HALF A MILLION DOLLARS TO COVID-19 RESPONSE IN AFRICA

Addis Ababa, Ethiopia, 30 September 2020 – The Eastern and Southern African Trade and Development Bank (TDB) is donating US$500,000 to support the COVID-19 response across Africa by the Africa Centres for Disease Control and Prevention (Africa CDC). The donation is being made to the African Union through the COVID-19 Response Fund as part of TBD’s COVID-19 Emergency Response Programme (CERP).

With this contribution, TDB, alongside a group of multilateral, sovereign, private sector and philanthropic partners, contributes to the implementation of the Africa Joint Continental Strategy for COVID-19 Outbreak, which aims to prevent severe illness and death from COVID-19 infections in African Union Member States, and minimize social disruption and economic consequences of COVID-19 outbreaks.

Admassu Tadesse, President and Chief Executive of TDB, said: “it is our duty to respond to African Union’s call for solidarity to address today’s greatest global public health crisis. The pooling of resources and fusion of efforts of global and African institutions is certainly crucial to halting the spread of the virus and mitigating its impact on the health and socio-economic situation of our peoples. We commend the African Union for bringing African countries together to act as one, with more power and greater effectiveness.”

The continental strategy for COVID-19 response was endorsed by African health ministers in February 2020 and approved by the African Union Bureau of Heads of State in March to facilitate cooperation, collaboration, coordination and communication in COVID-19 response across the continent.

To ensure availability of funds to implement the strategy, the African Union COVID-19 Response Fund was established in March 2020. Efforts are now being made by several partners, including private and public sector entities, to raise substantial amounts of funds for COVID-19 response in Africa.

“Considering the socioeconomic effects of the COVID-19 pandemic on Member States, we must continue to be proactive in our response, and continue to expand and strengthen our partnerships to fight this pandemic effectively. I sincerely applaud this valuable contribution by TDB to the implementation of the continental strategy and call on other partners to support our efforts,” said H.E. Amira Elfadil Mohammed, Commissioner for Social Affairs at African Union Commission.

“Our strategy highlights four things: cooperation, collaboration, coordination and communication. As a continent we may not have the resources to build 1000 health facilities in two weeks like China, but we can work together collectively to mobilize partnerships, cooperation and solidarity needed to reinforce our health systems and overcome the pandemic. The donation by TDB is a good example of such partnership and solidarity,” said Dr John Nkengasong, Director of Africa CDC.

Mary Kamari, TDB Corporate Affairs and Investor Relations Executive, said: “in the face of this deadly pandemic, the Bank was quick to set up CERP, which, in addition to this donation to Africa CDC, is implementing tailored interventions in each of its Member States. CERP is boosting and complementing African Union’s support to Member States with the donation of locally produced personal protective equipment and interventions that support small and medium enterprises, employment, and water, sanitation and hygiene (WASH).”

In addition to this donation, as part of TDB broader COVID-19 response, a set of financing interventions is also under way with enterprises and financial institutions in the region, via re-prioritized and special operations, in collaboration with the Bank’s global and regional partners.

 

About TDB
Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a multilateral, treaty-based, investment-grade development financial institution, with assets of US$6.7bn. The Bank’s mandate is to finance and foster trade, regional economic integration and sustainable development through trade finance and project and infrastructure finance.
www.tdbgroup.org

About Africa CDC
Africa CDC is a specialized technical institution of the African Union that strengthens the capacity and capability of Africa’s public health institutions as well as partnerships to detect and respond quickly and effectively to disease threats and outbreaks, based on data-driven interventions and programmes. Learn more at: http://www.africacdc.org

About the African Union COVID-19 Response Fund
The African Union COVID-19 Response Fund aims to raise resources to strengthen the continental response to COVID-19. Entities and individuals can contribute to the fund provided that their objectives and purpose are consistent with the purpose and objectives of the African Union. Learn more at: https://au.int/AUCOVID19ResponseFund

Media contacts / For more Information
Anne-Marie Iskandar, Senior Communications Officer
Corporate Affairs and Investor Relations
Trade and Development Bank
Anne-Marie.Iskandar@tdbgroup.org

Wynne Musabayana
Head of Communication Division
Directorate of Information and Communication
African Union Commission
Musabayanaw@africa-union.org

James Ayodele
Principal Communication Officer
Africa CDC
ayodelej@africa-union.org

Author: tdb

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