As part of the US$ 2.3 Billion Package, IsDB Provides US$ 1.86 Billion to 27 Member Countries to Contain COVID-19
IsDB President Dr. Bandar Hajjar continued, for the 6th week in a row, his meetings with Governors for Member Countries (MCs) to discuss the Bank’s financial assistance to support their efforts to fight COVID19.
Dr. Bandar Hajjar met with H.E. Sooronbay Jeenbekov, President of Kyrgyz Republic, H.E. Alpha Condé, President of Guinea, and H.E. Mr. Azali Assoumani, President of Comoros, in addition to 37 IsDB Governors to discuss the challenges facing MCs as a result of COVID-19, and the financial package provided by the Bank to meet their urgent needs – especially in health sector. The assistance also covers the economic sector, to address the repercussions of the disease which go beyond health: the threat to MSMEs and other income generating activities in MCs and abroad.
The assistance totals announced by the President, in meetings with MCs, has so far reached US$ 1.86 billion for 27 member countries. The technical teams from IsDB and about 15 member countries are still in continuous discussions to estimate their basic needs to finalise their financial packages as part of the first stage of IsDB Group support, which is composed of three stages (Respond, Restore, and Restart), and that will cover their needs in the short, medium and long terms.
On Monday, Dr. Bandar Hajjar held a virtual conference with H.E Abdoulaye Bio Tchané, Senior Minister of Planning and Development, Benin, to discuss the IsDB Group’s contribution of US$ 131 million to support the country in its fight against COVID-19. Dr. Bandar Hajjar explained in the meeting that the IsDB is in touch with all MCs to ensure that they will pass this ordeal safely, “I believe these difficult times call for a collective and coordinated action not only to contain the COVID-19 outbreak but also to address the aftermath so that our communities get back to their normal lives,” he said.
He added that the IsDB Group wider envelope for Benin is currently under discussion and subject to the Bank’s formal approval, explaining that the aggregate assistance package provided by IsDB Group consists of a combination of soft loans, ordinary resources, private sector finance, trade finance and credit and investment insurance.