Development banks

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Norway is a large and active donor to multilateral development banks.

The African Development Bank approved its large-scale Covid-19 Rapid Response Facility (CRF) on 8 April. The package contains up to USD 10 billion. Norway is contributing through its NOK 800 million in core funding for the year.

The Inter-American Development Bank (IDB) has increased its provision of capital to the region by USD 3 billion and will focus on four areas: the immediate public health response, safety nets for vulnerable populations, economic productivity and employment. In addition, IDB’s private-sector arm will allocate USD 4.5 billion from its investment programme in 2022 to Covid-19-related measures in the private sector.

The Asian Development Bank (ADB) has allocated USD 20 million to address the coronavirus pandemic, and the Asian Infrastructure Investment Bank (AIIB) USD 10 billion. The funding from both banks is to be directed at the pandemic’s macroeconomic and health-related effects.

The European Bank for Reconstruction and Development (EBRD) has adopted a EUR 4 billion Solidarity Package for existing clients, focusing the private sectors of Eastern Europe/Eurasia, Turkey and the Middle East.

The Council of Europe Development Bank (CEB) has modified its funding mechanism to enable it to fund medical equipment and material purchases, convert standard buildings into hospitals, develop medical units and mobilise expertise.