Coronavirus package contains $11 billion for three international development organizations
Added 03-27-20 07:29:02am EST - “Among the many provisions in the $2.2 trillion coronavirus relief package that appear to have little to do with the immediate? crisis at home is a nearly $11? billion pot of money for three international development groups.?” - Foxnews.com
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President Trump congratulates America after the Senate unanimously passes the stimulus bill, but some lawmakers say it may not be enough; Kristin Fisher reports from the White House.
Among the many provisions in the $2.2 trillion coronavirus relief package that appear to have little to do with the immediate crisis at home is a nearly $11 billion pot of money for three international development groups.
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) – which the House of Representatives is expected to vote on Friday – includes the funding for the African Development Fund (ADF), the African Development Bank (AfDB) and the International Development Association (IDA).
The ADF and the AfDB are two related organizations that help fund development and poverty eradication efforts in Africa, whereas the IDA is a subsidiary of the World Bank that gives to poor countries in general. Combined, they will receive more than $10.8 billion under the CARES Act.
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