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Sub-Saharan Africa growth to fall [Business Africa]

Business Africa

The World Bank has said a significant post-COVID recession looms in sub-Saharan Africa.

From the 1.6% rate previously announced by the IMF, the continent will experience a further contraction in its gross domestic product by 2.8%, according to the latest World Bank report.

It is a consequence of the coronavirus, which the body says will push millions of people into extreme poverty.

AfDB grants $13.55 million to CEMAC, DRC

And to support CEMAC economies that are suffering from the effects of the covid-19 pandemic, the African Development Bank has announced funding of more than 13 million dollars, that will be distributed differently depending on emergencies identified.

The amounts allocated will be directed mainly towards the management and improvement of health systems.