Arab Africa Trade Bridges (AATB) Program outlines actions to support developing countries cope with the COVID-19 crisis

(Jeddah, KSA, 14 April 2020) – The International Islamic Trade Finance Corporation (ITFC), and its partners have approved an AATB Program Action Plan to support African and Arab countries to strengthen their socio-economic resilience in light of the COVID-19 pandemic. In addition to ITFC, the 4th Executive Committee meeting of the AATB Program, held virtually, was attended by heads of member institutions including Arab Bank for Economic Development in Africa (BADEA) and ICIEC as well as senior officials from other members such as from Afreximbank and Islamic Development Bank (IsDB).

AATB has the mandate of driving regional economic integration between the African and Arab regions and strengthening SME export development across key sectors. With the present crisis, member organizations will realign all existing financing engagements towards a range of interim and medium-term measures that respond directly to the needs of both regions.

With the healthcare and pharmaceutical sectors prioritized, immediate measures include supporting the Network of Laboratories in West Africa with the supply of COVID-19 testing kits, lab equipment and personal protection equipment (PPE) for medical and para medical staff. In tandem with material and financial aid, African laboratories will be able to access critical knowhow through a range of capacity building and knowledge sharing programs including online trainings, protocols and standard operating procedure (SOP) to diagnose and manage the coronavirus