The Arab Fund dedicated a major portion of its Loans and Grants, during 2020, to help the Arab Countries mitigate the effects of the COVID–19 (Corona) Pandemic
- News
06-September-2020Recognizing the detrimental damages that the COVID-19 Pandemic inflicted on the Arab Countries, the Arab Fund dedicated a major portion of its lending program, in the year 2020, to help its member states mitigate such effects.
In this respect, the Arab Fund provided five loans to Tunisia, Mauritania, Jordan, Oman and Morocco, amounting to KD 165 million, as part of an emergency program to ward off the effects of the pandemic. The total amount of these loans represented around 47% of the total amount of loans provided by the Arab Fund during the year.
Additionally, out of the 34 grants extended by the Arab Fund during 2020, 11 grants were dedicated to support activities in Egypt, Mauritania, Jordan, Tunisia, Morocco, Algeria, Libya, Comoros, Djibouti, Lebanon and Yemen, all aimed at combatting the pandemic through the provision of necessary medical supplies and equipment. Additionally, a grant was extended to ICARDA to help it meet the challenges facing the agricultural sector in the Arab world, as result of the pandemic.
The total amount of the COVID–19 related grants represented around 70% of the total amount of grants extended by the Arab Fund(*) during the year.
(*) This figure does not include the Arab Funds’ contribution (K.D. 16.063 Million) to the Seventeenth Phase of the Urgent Program to Support the Palestinian People.