Canadian Prime Minister Justin Trudeau announced that his country will allocate additional aid to African countries whose economies have been severely affected by the Coronavirus pandemic, noting that the Corona pandemic has caused economic and social challenges in all countries of the world, including Canada’s partners in the African continent.
The Prime Minister of Canada – during his speech at the Conference on Financing African Economies that began its work today in the French capital Paris – said that Canada is at the forefront of countries that have provided aid to support international efforts to fight the Corona pandemic, indicating that his country will continue to support international efforts to overcome the Corona pandemic Based on its conviction that the pandemic cannot be defeated inside Canada without confronting it everywhere in the world.
He indicated that his country would accelerate its support for the process of increasing the capital of the African Development Bank to enhance its ability to meet financial needs and support economic growth in African countries.
He added that the Canadian government will provide 7 million dollars over the next five years to support the Climate Change Fund at the African Development Bank, pointing out that his country will allocate 300 million dollars in its budget for the current year to support the private sector and help developing countries, especially African countries, to combat poverty and enhance the participation of women in Economy and mitigation of the repercussions of climate change.
The Canadian Prime Minister also announced that his country will allocate 15.2 million dollars in funding for the African Trade Policy Center at the United Nations Economic Commission for Africa to promote the African Continental Free Trade Area.