IsDB President Meets with a Number of Member Countries to Support them in Addressing the Corona Pandemic, Provides Senegal and Guinea with USD$ 182 Million to Contain the Crisis

As part of the Islamic Development Bank’s eagerness to support its Member Countries in addressing the challenges emanating from the Covid-19 pandemic, Dr. Bandar Hajjar, President of the Islamic Development Bank (IsDB) Group, has convened a virtual meeting with H.E. Mr. Amadou Hott, Minister of Economy, Planning and International Cooperation of the Republic of Senegal, and Mrs. Kanny Diallo, Minister of Planning and Economic Development of the Republic of Guinea. H.E. Dr. Hajjar discussed with them the persistent efforts that the Bank is making to deliver a rapid and effective response to its Member Countries’ needs to enable them to overcome the challenges of the pandemic.

Dr. Hajjar stressed that the IsDB Group was working with the Senegalese side to assess the urgent needs of the Republic of Senegal in order to deliver the required response to address the fallout of the Corona crisis. This includes the provision by the IsDB Group of US$ 162 million in assistance to help the country monitor and trace the outbreak, manage the development of infection to prevent the spread of the virus, develop the capacities of laboratories and increase medical supplies, in addition to supporting small and medium-sized enterprises (SMEs), which are expected to be among the hardest hit by the pandemic.

H.E. Dr. Hajjar stressed that the IsDB Group is committed to securing and providing the agreed financial assistance through the Block Chain platform no later than three or four days, in turn the country may effectively move towards addressing this challenge.

H.E. Mr. Hott expressed his praise to the IsDB Group as well as the appreciation of his country's government, for the Bank’s rapid response to the needs of Senegal to address the challenges of the pandemic, and for its effective performance and delivery, allowing the use of allocated funds in record time.

In his meeting with the Minister of Planning and Economic Development of the Republic of Guinea, Dr. Hajjar reaffirmed the Bank’s support for Guinea and all its Member Countries in this crisis and the provision of all necessary assistance that would enable them to address the pandemic and meet its resulting challenges. H.E. Dr. Hajjar reiterated that the IsDB Group would support Guinea with US$ 20 million to cover the urgent needs that would help it meet the health, social and economic challenges posed by the pandemic.

The Guinean Minister thanked the President of the Bank for this initiative which embodies the Bank’s interest and keenness to support its Member Countries in the stringent circumstances that the world is going through. Also, H.E. Mrs. Diallo praised highly the Bank’s use of modern and advanced technology to deliver a rapid response to its Member Countries’ needs.

The President of the IsDB invited several other IsDB Governors to reflect on ways to enhance these countries’ ability to address this problem which has global dimensions and extended spillover effects.