A new emergency aid fund has been approved by the International Monetary Fund (IMF) for 28 countries on Monday; 22 of them were African. According to reports, the funds are meant to either help these countries combat the Wuhan virus pandemic or help pay back their debts.
According to Africanews, in April, the IMF cancelled the debts of 25 of the economically-challenged countries by activating an emergency mechanism, the Natural Disaster Response and Assistance Trust Fund of about 500 million USD.
The 28 countries would receive a total of 959 million USD by April 2022 — as a grant, not a loan.
Mali has been included as a potential recipient of this grant, however, the IMF awaits the international community’s validation of the new Malian government before honouring its eligibility.
With the exception of Rwanda, it is the least wealthy countries who will qualify for this aid in Africa.