Government Provides Total $70 Million Emergency Loans for COVID-19 to Ghana and Tanzania

Joint COVID-19 Crisis Response Funding Support with the Economic Development Cooperation Fund and International Organizations

[Asia Economy Reporter Kwangho Lee] The Ministry of Economy and Finance announced that it approved a total of $70 million in External Economic Cooperation Fund (EDCF) program loans to Ghana and Tanzania in two rounds on the 22nd of last month and the 3rd of this month to respond to the COVID-19 crisis in African developing countries.

This support was promoted as part of the EDCF emergency fund support plan of $400 million + α for developing countries' COVID-19 response.

With this, the Korean government has newly approved a total of $140 million in EDCF COVID-19 emergency response loans to Africa, starting with a $70 million loan to Ethiopia in June.

Ghana will receive $30 million to establish health sector response policies and expand medical facilities, and along with the loan support, follow-up projects in the health and medical field such as procurement of medical equipment will also be promoted.

Tanzania will receive $40 million to implement the COVID-19 crisis response plan, including strengthening infectious disease diagnosis and management capabilities, and in connection with the loan support, EDCF policy consultations will continue to strengthen system capabilities in the public health sector in the future.

An official from the Ministry of Economy and Finance said, "We will continue to actively discover and support cooperation projects in the health and medical fields such as infectious disease crisis response in the African region, expansion of public medical facilities such as hospitals, and introduction of medical equipment."

This content was produced with the assistance of AI translation services.