IMF, World Bank say Africa to get $57 billion from official creditors in 2020

The International Monetary Fund and World Bank said on Friday that official creditors have mobilized up to $57 billion in loans and grants for Africa in 2020 to aid the continent’s response and recovery from the coronavirus pandemic.

The International Monetary Fund and World Bank said on Friday that official creditors have mobilized up to $57 billion in loans and grants for Africa in 2020 to aid the continent’s response and recovery from the coronavirus pandemic. In a joint statement issued after a videoconference with African leaders, the World Bank and IMF said the total includes more than $18 billion from each of the two institutions for front line health services, support the poor and vulnerable and to keep economies afloat amid the worst economic downturn since the 1930s.