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African Development Bank Group supports Ghana’s COVID-19 response plan with $69 million grant

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coronavirus

The Board of Directors of the African Development Fund (ADF) on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation.

The grant from the ADF, the concessional arm of the African Development Bank , will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness and Response Plan, and Coronavirus Alleviation Program.

Specifically, the funds will help to upgrade the capacity of healthcare facilities to isolate, diagnose and care for patients, and provide more test kits, pharmaceuticals, equipment and beds. It will also ensure adequate personal protective equipment (PPE) for health workers and support financial incentives and an insurance package for health and allied professionals.

Ghana ranks fourth in COVID-19 infections in Africa after South Africa, Egypt and Nigeria. As of 24 July 2020, the West African nation has recorded 30,366 cases of the disease, with 26,687 recoveries and 153 deaths.

“Overall, the objective is to help contain the spread of the virus, expand testing and ease the impact of the virus on social and economic life, through measures aimed at protecting jobs, sustaining livelihoods and supporting small businesses,” said Marie-Laure Akin-Olugbade, the Bank’s Director General for West Africa.

The ADF grant is a Crisis Response Budget Support operation, disbursable in a single tranche under the Bank’s $10 billion COVID-19 Response Facility. The grant aligns with one of the Bank’s High 5 priorities, namely to “Improve the quality of life for the people of Africa.

Under Ghana’s COVID-19 response program, all affected persons will receive free treatment and free water supply. Micro, Small and Medium enterprises (MSMEs) will benefit from a soft loan scheme with one-year moratorium and two-year repayment period. The private sector will also benefit from a tax freeze and refund, direct subsidies and a guarantee fund, enabling businesses to access bank credit.

The program also aims to increase the percentage of the population tested from one percent to three percent by the end of December 2020, boost the number of points of entry reporting suspected cases of COVID-19 from 1 to 14 by the end of September 2020, and increase designated treatment centers with adequate intensive care facilities to 100% by end December 2020.

As elsewhere, the pandemic has slowed down economic activity in the agriculture, industrial and services sectors. The agriculture sector, in particular, will likely record a lower performance since the disease has coincided with the onset of Ghana’s farming season.

The economy of Ghana, which exports gold, cocoa and oil, is negatively affected by a significant increase in public spending due to COVID-19. Real GDP growth is projected at 2.1% in 2020 compared to 6.1% in 2019, while the current account deficit is forecast to widen to 3.6% compared to 3% in 2019, due to a decline in export earnings and lower tourism revenues and remittances.

The COVID-19 pandemic could also deepen inequalities between men and women, with far-reaching health, social, and economic implications, Bank officials noted.

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WATCH: Mercy Aseidu cuts sod for ICT Project in Kunsu

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Mercy Aseidu Cut sod for Kunsu ICT Project

Ghanaian movie star and co-host of Obra at Nhyira FM, Ohene Yere Mercy Aseidu on Saturday 6th August 2022 cut sod for the construction of a modern ICT Center at Kunsu. (more…)

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Renault Ghana, Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

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Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Premium Motors Limited, the authorized distributors of Renault vehicles in Ghana, has sponsored the celebration of this year’s Asafotufiami Festival by the people of the Ada Traditional Area. The sponsorship forms part of Premium Motor’s commitments aimed at celebrating the promotion of Ghanaian culture and heritage.

 Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Speaking at a grand durbar to celebrate the festival, the General Manager of Renault Ghana, Lilian Augusto, reaffirmed her company’s commitment to the country. She said “Ghana’s deep and rich cultural heritage and festivals such as the Asafotufiami present us with a unique opportunity to preserve and celebrate the rich Ghanaian culture. We are happy to have celebrated alongside the Chiefs and people of Ada this year. Ghana remains a key Renault market and we will continue to play our part in projecting Ghana and supporting development across the country.”

 Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

In his remarks, Marketing Manager of Renault Ghana, Christopher Attipoe, said it is a part of the company’s purpose to positively influence the communities in which they operate. According to him “As a company, we are committed to the societies and communities in which we operate and it is part of our objectives to positively influence, grow and promote Ghana’s rich and indigenous culture.”

Read Also: Sangu Delle Foundation honours Nana Dufie Addo, former COO of GIPC, with leadership award in job creation in Africa

 Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Celebrated by the people of Ada, the Asafotufiami festival aims to remind the Ada people of the great wars they survived and to honor their soldiers, ancestors and former chiefs, all of whom contributed to the successful establishment and survival of the Ada kingdom. This year’s festival, which is the first to be held after the lifting of the ban on large public gatherings, was held under the theme ‘Uniting the Ada State in Peace and Harnessing our Individual Potentials through our Cultural Heritage and Usage of our Natural Resources”.

 

Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival7 Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival4

 Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

Premium Motors Limited Join People Of Ada To Mark Asafotufiami Festival

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Sangu Delle Foundation honours Nana Dufie Addo, former COO of GIPC, with leadership award in job creation in Africa

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Sangu Delle Foundation honors Ms. Nana Dufie Addo, former COO of GIPC, with leadership award in job creation in Africa

The Sangu Delle Foundation (SDF) presented the former Chief Operating Officer of the Ghana Investment Promotion Centre (GIPC) with a Leadership Award in Job Creation during its inaugural fundraising gala held at Kempinski Hotel in Accra on July 31, 2022. (more…)

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How to Make Money on YouTube in 2022

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Kwadwo Sheldon 1

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Sermorelin and Ipamorelin Blend And Muscle Growth

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Growth hormone-releasing peptides (GHRH) like the Sermorelin-Ipamorelin combination stimulate the pituitary gland to produce more growth hormones. (more…)

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