The African Development Bank Group has signed an agreement to become an implementing entity of the Pandemic Fund. This enables the Bank to coordinate financing of the Fund’s approved projects in Africa, as well as to participate in a call for proposals for financing investments scheduled to launch next month.
The financial procedures agreement, signed in January with the World Bank Group (the International Bank for Reconstruction and Development acted as a trustee for the Pandemic Fund), qualifies the African Development Bank to participate in a share of $500 million in Fund Secretariat financing for proposals for pandemic-related programs, projects and policies, with a focus on low and middle-income countries. (Press release)
