S. Korea to provide US$70 mln in loans for Africa’s virus fight
SEOUL, South Korea said Tuesday it will provide low-interest, long-term loans worth US$70 million to help African nations fight the new coronavirus pandemic.
Seoul plans to provide the support through the Economic Development Cooperation Fund (EDCF) to help Ghana and Tanzania fight the virus, according to the Ministry of Economy and Finance.
The loans will be spent on establishing medical infrastructure and expanding COVID-19 testing capabilities in the African nations, the ministry said.
The announcement came after South Korea vowed to spend more than $400 million to help underdeveloped nations hit by the COVID-19 pandemic.
Last month, South Korea also provided a total of $200 million to the Philippines, Cambodia, and Bangladesh.
Source: Yonhap News Agency