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The African Export-Import Bank says it is donating U.S.$1.5 million to support relief efforts for victims of tropical cyclone Idai which devastated Mozambique, Zimbabwe and Malawi recently.
Afreximbank President Prof. Benedict Oramah said the relief package was approved by the bank’s board of directors last week and the funds will be distributed across the three southern African countries on the basis of the scale of damage suffered.
Oramah said Afreximbank decided to act given the scale of the devastation brought about by the tropical cyclone, whose death toll is expected to exceed 1,000 and which affected at least 2.5 million people.
He said the funds would be disbursed through the national relief agencies of the three countries as they were well-placed to deploy them to the most critical areas of need.
Afreximbank will also send missions to the countries to assess the potential for deploying its programmes and facilities.Source: IOL