The African Development Bank Group (AfDB) has a new $10 billion COVID-19 response plan to assist member states in fighting the pandemic.
The AfDB, in a statement late Wednesday, said it will provide the allocated funds to both governments and the private sector.
"Africa is facing enormous fiscal challenges to respond to the coronavirus pandemic effectively. The African Development Bank Group is deploying its full weight of emergency response support to assist Africa at this critical time. We must protect lives," said Akinwumi Adesina, head of the AfDB, commending the board of directors for its unwavering support.
"This facility will help African countries to fast-track their efforts to contain the rapid spread of COVID-19."
He added: "These are extraordinary times, and we must take bold and decisive actions to save and protect millions of lives in Africa. We are in a race to save lives. No country will be left behind."
Just over 10,692 coronavirus cases have so far been reported in 52 of the 54 countries in Africa, according to the Africa Centers for Disease Prevention and Control.
African governments have introduced numerous measures to stem the virus' spread, including closing schools, imposing travel restrictions, and banning large gatherings.
Since the virus emerged in Wuhan, China last December, it has spread to at least 184 countries and regions, according to Johns Hopkins University's Coronavirus Resource Center.
Nearly 1.5 million have tested positive, while the the death toll nears 89,000.
As the crisis abates in the Chinese mainland, the new epicenters of the virus are Europe and the U.S.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.