ADB offers $5bn to alleviate energy and fertiliser crisis
Institution says funds will be delivered on selective and demand-driven basis
The African Development Bank (ADB) has approved around $5 billion in funding to mitigate the impact on the continent of the global energy and fertiliser crisis. The institution tells Central Banking the allocation will be based on requests from national governments for support, with priority given to the countries most affected.
In a statement on September 7, the ADB announced the Global Energy and Fertiliser Crisis Response Framework (GEFCRF), which was “designed to provide immediate relief
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