The COVID-19 pandemic has resulted in almost 115 million confirmed cases and more than 2.5 million deaths. Vaccines continue to provide hope, but the funding response shows that governments and donors are planning for the long-term impacts — particularly the long-term economic effects.
The funding committed to combating the virus and its impact has grown to more than $20.7 trillion, according to an analysis of data available on the Devex funding platform. The announcements, tracked over 12 months, between Jan. 1, 2020, and Feb. 28, 2021, show how donors are converting their commitments through awarded contracts, grants, new programs, tenders, and open funding opportunities.
Since 2020, governments, bilateral and multilateral donors, development banks, philanthropic organizations, and the private sector have all played a role in contributing money, equipment, and expertise to the response. Funding activities, information about funding opportunities, and news compiled from Devex funding data allow for the intent and fulfillment of these commitments to be better understood.
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As of Feb. 28, investments totaling $217.9 billion have been made through 1,175 program announcements, and 960 grants have supported $4 billion worth of investments. As for business opportunities, 2,619 tenders have seen $5.6 billion invested through program delivery and service partners, while 1,710 contracts have delivered $2.5 billion on the ground.
This funding data is available through a Tableau interactive dashboard. Explore where the funding is going, who is supplying the money, and what funding is focusing on.
Interact with global COVID-19 funding in this tableau interactive dashboard from Devex.
Since Feb. 21, $24.2 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $1.6 billion in programs, grants, tenders, and open opportunities.
The international vaccination effort, especially support for low- and middle-income countries, saw the largest new funding announcements. $4.3 billion was announced in support of COVAX from donors including Agence Française de Développement, the U.S. Agency for International Development, and Japan International Cooperation Agency.
The board of directors for the African Export-Import Bank approved $2 billion to support the purchase of 270 million doses of COVID-19 vaccines which will go to African countries including Nigeria. And the World Bank announced $1.6 billion supporting the purchase of COVID-19 vaccines for 12 countries, including Bangladesh, Ethiopia, the Philippines, and Tunisia.
In China, the continuing impact of the pandemic has seen the announcement of a new $1.1 billion emergency assistance package from the New Development Bank, targeting both health and economic impacts. Improving resilience of both the health sector and economic markets are key objectives of the new funding announcement. For many donors, continuing to advance the digital development and strengthen the digital economy is an important part of a resilient and future-proofed economy — including in Ethiopia where the World Bank has announced a $200 million loan to develop the digital economy.
The economic and health response in the Pacific has also received a boost through new announcements. Japan has approved a $200 million emergency loan for Fiji to strengthen its health and medical services — which is currently threatened by new cases of COVID-19 reported in the country. The World Bank announced a new $57 million to promote sustainable forest management and improve economic livelihoods in Laos. And the U.S. Department of State announced $2 million in support to the Pacific Financial Technical Assistance Center, which aims to reduce the economic shocks from the pandemic in the region in anticipation of the long-term effects.
But while the new announcements continue, there still needs to be analysis on what donors are funding and what may have been lost as COVID-19 took center stage — including in Tanzania where the World Bank is seeking a consultancy firm to determine if essential health care services have been maintained in the government’s response.
Since Feb. 14, $5.5 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $810 million in programs, grants, tenders, and open opportunities.
Leading the new funding announcements is the International Monetary Fund with a $2.4 billion program for Kenya. This 38-month initiative will help Kenya in “the next phase of the country’s COVID-19 response,” with the aim to stabilize and begin reducing debt levels. The funds are a large boost to Kenya, which also received new support from Global Affairs Canada on a project to reduce the rate of mortality and morbidity from COVID-19. The Japan International Cooperation Agency will also work to “protect and rehabilitate juvenile delinquents,” which will also decrease the risk of the coronavirus spreading due to over-containment in correctional facilities.
Continuing the response to the economic impact of the pandemic, in Côte d'Ivoire, the World Bank has announced a $300 million program to strengthen the country’s response to COVID-19 and promote a sustained economic recovery for long. Under this initiative, the safety net system will be expanded “with rapid and well-targeted cash transfers to households affected by COVID-19,” low-income households will be protected with a temporary subsidy for electricity bills, and better governance models for the dissemination of COVID-19 funds will be implemented.
As part of the concept of “building back better” from the pandemic, sustainable and green solutions economic funding has grown as a priority. This week the European Bank for Reconstruction and Development announces a new $100 million loan targeting both renewable energy solutions and women-led investments in Turkey — priority areas for EBRD in its response to the pandemic. And in the Philippines, the United Nations is working “greening” the country’s recovery and resilience strategy as part of a new tender opportunity.
Health innovation has also been a priority this week with Adjuvant Capital announcing an “oversubscribed” $300 million venture fund focused to continue rapid advancement in medical innovations — including supporting the COVID-19 response. The need for better research and data to support the response continues to grow, as the U.N. seeks support for health information systems in Laos and Helmsley Charitable Trust awards new funding for research into COVID-19 vaccine responses. But equitable access to the medical response, especially vaccines, continues to grow into the funding database with Sweden contributing $12 million in support last week.
Since Feb. 7, $3.1 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $2.3 billion in programs, grants, tenders, and open opportunities. The Asian Development Bank leads the new funding, announcing a pledge of $940 million to support the procurement of COVID-19 vaccines in Bangladesh. In Rwanda, the World Bank has announced a $500 million financing facility for Rwanda, supporting “vaccine procurement and deployment, financial support to micro and small and medium enterprises, commercializing agriculture and promoting digital inclusion.”
The International Finance Corporation announced a $400 million initiative to help “financial services providers deliver funding to small businesses, informal enterprises, and low-income households that have been hit the hardest by the lockdowns and economic slowdown caused by the COVID-19 pandemic.” This program will be an expansion of an $8 billion fast-track COVID facility launched by IFC last year as part of the World Bank response to COVID-19.
Procurement of equipment is a vital part of the World bank’s response as seen in new contract data, valued at $361 million, that was added to the Devex database, showing the impact on the ground.
Procurement of COVID-related medical supplies and personal protective equipment for Sri Lanka was the largest contract, valued at $35.2 million. The contract was awarded to the United Nations Children's Fund. Similar procurements were also required to support Ethiopia, Tunisia, Ukraine, and others.
Contracts were also awarded for suppliers of cash transfer systems in countries such as Liberia, technical support for startup and SME programs in the West Bank and Gaza, and financial specialists contracted to provide services to country programs.
Supporting government health messaging was also an important focus of COVID-related contracts. In Ghana, funding was provided for transcripts and voiceovers for presidential and political addresses. The procurement of smartphones and video conference systems in Angola supports responder communication. And in Bangladesh, funding is supporting a docu-drama on the importance of farm hygiene and worker health during the pandemic.
But while this data does provide an important insight into how funding is being delivered to respond to the health, social, and economic crises, there are still questions on data quality. Details for some contracts are vague, such as the “Google COVID-19” project supporting Pakistan which leads to the question of why the supplier is being provided with 8.85 Million Pakistani Rupee ($50,000). With more detail, the objectives and impacts can be better understood.
Since Jan. 31, $29.8 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $2.2 billion in programs, grants, tenders, and open opportunities. Leading the new funding is the European Investment Bank, announcing €1.5 billion ($1.8 billion) in global financing to ensure access to money “by companies and entrepreneurs most impacted by COVID-19,” as well as to “back public sector investment that would otherwise be delayed by the pandemic.”
Other development banks are continuing their focus on economic development. The European Bank for Reconstruction and Development is focused on supporting energy sustainability and development in response to the pandemic as part of a €300 million ($360 million) package in Tunisia. And the Inter-American Development Bank is forecasting a new $288 million program for Argentina, which aims to improve business productivity through innovation.
Vaccine distribution continues to require additional support. New funding totaling $90 million has been announced from the Rockefeller Foundation, mining company Anglo American, and the Asian Development Bank. To support distribution, in Dubai a Vaccine Logistics Alliance has been launched to speed up supplies of COVID-19 vaccines globally via the Emirates.
In India, a new tender has been released with the United Nations calling for staff to support the vaccine rollout. And the Global Alliance for Vaccines and Immunization is requesting support to improve data and communication between countries and partner organizations for COVID-19 vaccine requirements.
While there is funding for initiatives that expect a return to life after COVID, there is also an expectation that its impacts may be felt longer.
In Australia, the Department of Foreign Affairs and Trade has called for tenderers to support Cambodia in developing urban planning and construction workplace health and safety guidelines, which will include advice on managing COVID risk as part of its content. And the funding data shows there is still much to be learned about the virus and its impact.
In the United States, the National Institutes of Health and Department of Health & Human Services are making grants available to research relationships between alcohol consumption and COVID-19 and results. And social impacts, including links between COVID-19 and violent extremism, are still areas in need of research and insight.
Since Jan. 24, $22.4 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $708.4 million in programs, grants, tenders, and open opportunities with the largest new announcements focusing on recovery in high- and middle-income economies.
The government of Israel announced $4.6 billion in support, including stimulus support for individuals as well as “grants and tax breaks for struggling businesses, and reforms to encourage pension fund investments in technology and infrastructure.”
Supporting Greece, the European Investment Bank has announced a €595 million ($714 million) loan to “strengthen” the COVID-19 response — as well as improve broader disaster prevention and management.
“The programme, to be implemented over the next five years, will completely restructure civil protection in Greece enabling a quicker response, strengthened local preparedness and coordination and better supply of personnel and equipment,” EIB said, announcing the funding.
And in China, the Asian Development Bank has announced a $421 million project supporting environmental improvement and green development in rural areas of the Hunan province. Waste and sanitation management facilities, locally produced agricultural and forestry products, and improved value chains and tourism are part of the program objectives which aim to “promote recovery from COVID-19 through inclusive rural economic development.”
While much of the big new announcements continue the trend of a focus on economic recovery, vaccines remain an important focus with this week seeing an increase in activity — including from the private sector. Google has announced $155 million in support for vaccine education, including $100 million in ad grants for the CDC Foundation, World Health Organization, and other nonprofit organizations.
“We’ll invest another $50 million in partnership with public health agencies to reach underserved communities with vaccine-related content and information,” Google said, announcing the new funds.
In support of the African Union’s COVID-19 vaccination program, mobile company MTN announced a $25 million donation which is expected to deliver 7 million doses of a COVID-19 vaccine for health workers. But the supply and delivery of vaccines is an area that needs public-private partnerships, with the United Nations announcing a partnership with shipping company DP World to support the distribution of COVID-19 vaccines delivered through the COVAX facility to LMICs.
For the month of January, these new announcements have contributed to $194 million in support from the private sector — considerably lower than the $281 billion in support announced in May 2020. And this makes the private sector the smallest source of new funds by donor type for the month.
Since Jan. 17, $7.5 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $937 million in programs, grants, tenders, and open opportunities — with the largest new funding announcement a $3.7 billion support package for Malaysia, announced by its government. Fighting the pandemic, protecting the welfare of Malaysians, and supporting the sustainability of businesses are the key objectives of this funding.
In Panama, the International Monetary Fund has approved the government’s request for a $2.7 billion precautionary and liquidity line that “will serve as insurance against extreme external shocks stemming from the COVID-19 pandemic.” And major infrastructure projects continue to drive hope of an economic recovery, including the announcement of a $300 million solid waste management program in India — which is also part of the pandemic response, improving sanitation and hygiene to vulnerable groups including those impacted by COVID-19. The project is expected to be approved in July and will be funded by the World Bank and Asian Infrastructure Investment Bank.
New contract details have emerged on the response of the U.K. Foreign, Commonwealth & Development Office. The Boston Consulting Group was last year awarded a £4.5 million ($6.2 million) contract to coordinate an “effective” government-led response to COVID-19, with a focus on “economic stability including jobs/support for the most vulnerable” and maintaining the supply of essential goods and services. The contract ends in June this year.
The World Bank also published new contract details, with $951,000 awarded to Ipsos Public Affairs to support phone surveys on the pandemic targeting Latin America and the Caribbean. Pakistan-based company Game Over Productions is also a recipient, receiving $263,000 to support the bank in its communications campaigns for COVID-19, and a range of contracts have been signed for equipment procurement including flasks for India.
In new grant opportunities, the U.S. Department of State is offering up to $20,000 in grants to nonprofits in Benin. The United Nations is seeking ideas for Kenya that will drive economic development by “turning waste into jobs,” and research proposals are being sought by the Western Balkans Fund and Japanese Ministry of Foreign Affairs to understand the impact of COVID-19 on the sustainability of civil society in the Western Balkans.
As part of the U.S. Coronavirus Aid, Relief, and Economic Security Act, new funding has been announced to improve the COVID-19 response within the country. The Centers for Disease Control and Prevention and Department of Health & Human Services will grant awards totaling $27 million for skilling up of community health workers, as well as awards totaling $23 million to strengthen public health systems.
Since Jan. 10, $3 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $676 million in programs, grants, tenders, and open opportunities — with the largest new funding announcement an €500 million ($605 million) initiative from the European Union to support businesses in Greece. This response aims to support “the transition of Greek SMEs to a post-COVID era of growth.”
In Myanmar, the International Monetary Fund has approved emergency financial assistance valued at $350 million, with the funds supporting targeting a range of economic and social costs from the pandemic in addition to the country’s “strained” health care system.
“The objective of the program is to contain COVID-19 and mitigate its adverse socioeconomic impacts in India, by extending budget support to the Government of India as it implements emergency response programs giving assistance to poor and vulnerable communities and also as it develops policy reforms for social protection as countermeasures against the COVID-19,” JICA said in announcing the funding.
Among new grant opportunities available in support of the COVID-19 response, Bloomberg Philanthropies has announced their 2021 Mayors Challenge which will award 15 grand prize winners $1 million each for innovative urban solutions developed in response to the pandemic. Health and well-being; climate and environment; economic recovery and inclusive growth; and good governance and equality are the themes the solutions will be targeting.
Elsewhere, the United States Agency for International Development is providing grants valued at between $100,000 and $500,000 “to promote and expand employment, trade, and investment opportunities,” with a specific focus on Cabo Verde in response to the COVID-19 pandemic.
The United States Department of State is providing grants of up to $20,000 in Poland to counter misinformation and disinformation about COVID-19. And within the Eastern Mediterranean Region, the United Nations will be providing grants of up to $10,000 for research providing insights into the situation for migrants including health needs and concerns — including the preparedness for and response to the COVID-19 pandemic.
As part of the COVID-19 economic recovery, the Inter-American Development Bank has announced a new tender to target the economic response — using journalists to promote investment opportunities. The tender is for the design and implementation of “PR activities to develop positive stakeholder relations and engage strategically with international journalists.” The purpose of this engagement is to strengthen Colombia’s attractiveness for foreign direct investment and help its economic recovery. With countries competing for money in the coming years, new ideas may continue to emerge in funding the pandemic response.
Since Jan. 3, $15.4 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $3.1 billion in programs, grants, tenders, and open opportunities — the largest new funding announcement is an $11.2 billion zero-interest loan from Bangko Sentral ng Pilipinas supporting the economic, health and social response in the Philippines.
While economic responses are still a priority, the growing COVID-19 case numbers reiterate the need for increased investment in health system strengthening. The Asian Development Bank announced a $75-million investment in enhanced health care capacity for India and China, while the European Investment Bank announced a $59-million package of support for the public health sector in Jordan. Personal protective equipment and medical supplies are also a priority, with the U.K. Foreign, Commonwealth & Development Office announcing a $6.1 million (£4.5 million) program to support the supply and delivery of equipment globally.
Engaging the public on health issues also continues to be a priority, with recently awarded contracts from the Ford Foundation helping support this work. In Mexico, it awarded a contract of $100,000 to NGO Cultural Survival whose work will deliver “emergency response for indigenous communities through multilingual radio public service announcements.” And in Nigeria, $70,000 will support Channels Incorporated Limited to produce a weekly COVID-19 awareness television show on the pandemic, covering “its impact and what various stakeholders are doing in response.”
But funding related to COVID-19 communication is also switching toward documenting the pandemic and its impact on society, with the availability of vaccines providing hope that the end may be nearing. Among the contracts awarded by the Ford Foundation is $50,000 for the production of a video on Nigeria’s response to the pandemic, documentation of youth mobilization and activism in Kenya, and support for contemporary artists to reflect on COVID-19 in Mexico.
Another emerging theme is keeping an account of where COVID-19 funds are being directed. In Kenya, the Ford Foundation is supporting monitoring the COVID-19 funding that is aimed at responding to gender-based violence in Lower Eastern Province. While in Tajikistan, the World Bank is seeking services to monitor programs supporting the COVID-19 response in the country — with a focus on health, vulnerable groups, and communication activities. The tenderer is expected to provide an “unbiased perspective and make recommendations for improvement” to ensure support is appropriately targeted.
This funding data is available through a new tableau interactive dashboard. Explore where the funding is going, who’s supplying the money, and what funding is focusing on.
More than a year into funding of the pandemic response, there is now an expectation that funding is being directed to vulnerable groups, with impacts and effectiveness being seen.
Jan. 6, 2021
Since Dec. 20, $42 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $2.7 billion in programs, grants, tenders, and open opportunities — with a return to a focus on the economic recovery from COVID-19.
Vaccines have led the new announcements, with the U.S. Agency for International Development announcing a $4.29 billion commitment to the Global Alliance for Vaccines and Immunisation to provide “equitable and safe” access to vaccines. Other new vaccine announcements have seen the European Commission provide €70 million ($85.4 million) in support for vaccine procurements in the Western Balkans, $5 million supplied by the Coalition for Epidemic Preparedness Innovations to help vaccine maker Biological E scale up production, and a new manufacturing agreement announced between Aurobindo Pharma and COVAXX.
In Singapore, a focus on economic and financial stability in response to COVID-19 has seen the government announce a renewal of loan commitments totaling $3.58 billion to be executed by the International Monetary Fund — with these funds aiming to safeguard “global economic and financial stability.”
The role of renewable energy in the economic response is a priority for the U.S. International Development Finance Corporation and The Rockefeller Foundation —- partnering for a $2.5 billion initiative that will “focus on delivering reliable, sustainable electricity to the 800 million people worldwide.” Through this, they aim to support a faster and more sustainable economic recovery.
And in Ecuador, $2 billion has been disbursed by IMF to respond to the economic impacts the country has faced caused by restrictions aimed at containing the spread of the virus.
Tenders have continued over from December 2020 for services to support various aspects of the COVID-19 response. The European Investment Bank has called for expressions of interest from financial intermediaries to support the provision of loans and to agricultural and agroindustrial businesses. As part of a project funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit, Fairtrade has requested a consultancy to support video production — with the aim of “mitigating the impact of the COVID-19 pandemic on Fairtrade producers’ health, wellbeing and economic sustainability.” The World Bank requires services to assist in providing recommendations for the “scaling up and out” of small scale mining to respond to the impact of COVID-19. While in Tanzania, the United Nations requires services to supply a range of vaccines — including tetanus, seasonal influenza, and rabies.
As the COVID-19 crisis grows, so does the diversity of needs in response and the expertise required to deliver it.
Dec. 23, 2020
Since Dec. 13, $47.5 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $12.8 billion in programs, grants, tenders, and open opportunities — with a return to a focus on the economic recovery from COVID-19.
The Inter-American Development Bank and New Development Bank are supporting a $3.5 billion loan to the government of Brazil — with this money intended to be used by participating financial institutions to provide loans to small and medium-sized enterprises. Globally, SMEs are a large employer. But they also employ in sectors that have been vulnerable to the pandemic — including tourism, transport, food and retail. Any loss of income or impact on their supply chain can be disastrous.
In other areas of the World Bank’s financial response, strengthening government financial reporting systems and transparency is a priority. Supporting Nigeria, $2 billion in funding aims to strengthen fiscal transparency, accountability, and sustainability, “including in the context of the COVID-19 response.” Improving budget transparency scores, enabling citizen access to information on procurements and contracts awarded, and reduced government debt are part of the funding objectives to improve Nigeria’s financial performance after the pandemic.
Despite these programs focusing on the economic response, awarded contracts recently published by the World Bank show the continuing need for equipment that will support the health response. COVID-19 tests were procured for Georgia and laboratory detection equipment in Senegal. And a range of medical supplies were needed for countries including Samoa and Togo.
There is also still more that needs to be done to educate people on how the virus spreads and its impacts — regardless of COVID-19 being discussed widely for most of the year. A new program announced by IDB will see $825,000 invested in Colombia to change behavior regarding water, sanitation, and hygiene to prevent the spread of the virus — including by encouraging more private sector investment in this space. In Liberia, a contract awarded to Liberia Crusaders for Peace by the World Bank used jingles and street performance to educate locals on preventing the spread.
In the short term, funding is still needed for the health and social response. But the long terms is where the big money is going — and that focus is economic.
Since Dec. 6, $12.1 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $1.2 billion in programs, grants, tenders, and open opportunities — with procurement of vaccines dominating the new announcements.
The announcement comes as COVID-19 cases reach over 69 million globally with over 1.5 million deaths and on the heels of regulatory approvals in the U.K., Bahrain, and Canada of the Pfizer-BioNTech COVID-19 vaccine.
The Asian Development Bank launched a $9 billion vaccine initiative — the Asia Pacific Vaccine Access Facility. This funding is expected to offer “rapid and equitable support” for regional members in procuring and delivering COVID-19 vaccines. The Russian government has announced an agreement for the delivery of the Russian-produced COVID-19 vaccine with Argentina.
Other major announcements from ADB include a $500-million loan for Indonesia to support the expansion of financial inclusion programs, a $300-million loan for India to improve urban health care, and a $94 million loan to support smallholder farmers in Indonesia, Papua New Guinea, and Vietnam.
In other new COVID-19 announcements, Microsoft announced the launch of Anti-Corruption Technology and Solutions — an initiative to combine cloud computing, data visualization, artificial intelligence, and machine learning to “detect and deter” corruption. Transparency to the use of COVID-19 economic stimulus funds is part of this initiative, which will help determine if funding is being directed toward the support it was initially intended for.
As vaccines are still to be disseminated on a wide scale and proven to be effective enough to enable life to return to something normal, health support continues to be needed. Not just in combatting the pandemic, but its impact on other areas of health.
As part of the Fast Track COVID-19 Facility, the World Bank has announced a $15 million project for the improvement of reproductive, maternal, and child health services in Uganda. This was seen as a gap that had emerged due to the pandemic. In Nairobi, the Kenya Red Cross Society and Mastercard Foundation are combining to fill the gap in mental health and psychosocial support with the implementation of telecounselling services.
With new tenders, the response to the pandemic continues to demand more equipment to support the growing medical demand. In Iraq, a response isolation ward is required and rapid testing kits in Bosnia and Herzegovina. In Paraguay, the need for medical supplies includes 100 intensive care hospital beds.
Since Nov. 29, $7.1 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $2.8 billion in programs, grants, tenders, and open opportunities — with the economic response continuing to dominate the financial response to the pandemic.
The decision for the International Monetary Fund to grant Kenya $2.3 billion is under discussion, with Kenya’s upcoming supplementary budget, elimination of COVID-19 tax cuts, and its navigation of debt restructuring “under the G20 debt relief terms” among the factors that will help make the final decision in February.
Supporting Africa, Agence Française de Développement announced its commitment to mobilize $1.21 billion in support of the Choose Africa initiative — an initiative led by Proparco to support SMEs and entrepreneurs. Resilience is the focus of a new phase of this program, and aims to support sectors that have seen a slowdown or reduction in business due to the pandemic. Deferred repayments and technical assistance are among the ways Choose Africa is providing support.
Banco de Desarrollo de América Latina is targeting Costa Rica as part of its latest economic support. A $500-million loan will be used to support social assistance programs, and help in the rapid disbursement of funds for both the “economic reactivation” and health response.
Social support and protection initiatives are also a focus on reactivating global economies. In Morocco, the World Bank has announced a $400 million loan to strengthen social assistance programs that will “reach the vulnerable”.
“Morocco has reacted decisively and swiftly to support the most vulnerable during the COVID-19 pandemic and is now accelerating reforms to strengthen its social protection system that we, at the World Bank, are proud to support.” said Jesko Hentschel, World Bank Maghreb country director, in announcing the loan.
“This project supports the country in its response to the pandemic as well in its plans to build a broad, effective and vital safety net system for vulnerable populations.”
In Norway, the Ministry of Foreign Affairs has committed $163.3 million to support UNICEF in targeting education, health, and other interventions for marginalized children globally as part of the country’s COVID-19 response. And in Jordan, Kreditanstalt für Wiederaufbau has announced €77.5 million ($93.8 million) to support socio-economic development in Jordan.
Calls for support are still continuing through tenders and grants, with consultancy services to design, implement, and manage a range of COVID-19 responses. Among the latest calls for consultancies, programs will target the Pacific, Africa, and Latin America.
In the Philippines, the United Nations is seeking a consultant to support health communications, while in Fiji it is seeking consultancy services for logistics supply management as part of the COVID response.
In Ethiopia, the African Union Commission is seeking consultancy services to establish Africa CDC monitoring and evaluation and emergency preparedness response activities. And in Honduras, the Inter-American Development Bank is seeking consultancy support to design and implement sustainable strategies supporting women carpenters — just a few examples of the diverse support required to deal with the range of impacts the pandemic has produced globally.
Since Nov. 22, $3.6 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $2.7 billion in programs, grants, tenders, and open opportunities — with the vaccine race behind the largest new announcement.
Supporting the supply and delivery of vaccines within the U.S. and globally, the U.S. International Development Finance Corporation announced a $1.1 billion loan for Ginkgo Bioworks — a biotech company founded specializing in using genetic engineering of bacteria for industrial applications. Through this loan, it is expected that Ginkgo will “aid in the expansion of its commercial biosecurity business at a global scale that will offer critical COVID-19 testing capacity and vaccine supplies,” and make available more than 300 million vaccine doses.
With the vaccine race comes a range of challenges that new funding is aiming to target. A new contract awarded to the Bill & Melinda Gates Medical Research Institute by the Bill & Melinda Gates Foundation will research and test therapeutics in the treatment and elimination of mild COVID-19, while support for the French Alternative Energies and Atomic Energy Commission will evaluate the impact of vaccine candidates and antibodies on immune responses.
The Global Alliance for Vaccines and Immunization and the United Nations have also announced a new partnership that will improve immunization coverage for migrants, including delivery of COVID-19 vaccines, while the U.N. has called for responses to a range of tenders that will assess the readiness of countries for the COVID-19 vaccination — including Mongolia and Papua New Guinea.
While health is a priority, the economic response continues to dominate new funding. In Ecuador, the World Bank has announced a $500 million loan to help the country in its economic recovery, which aims to support vulnerable groups as well as strengthen policies and systems that will encourage private sector investment.
Small and medium-sized enterprises also continue to be a focus of new investments due to the vulnerability of the sector — with new announcements including $500 million from the African Development Bank, European Investment Bank, PROPARCO and the World Bank to support small business in Kenya, as well as $165 million from the Asian Development Bank targeting small business in Sri Lanka.
Despite these targeted initiatives, there remains an ongoing need for equipment to support the continuing health emergency — with protective equipment supporting responders and ambulances among the latest calls for tenders funding the COVID-19 response.
Since Nov. 15, $45.9 billion in COVID-19 funding announcements have been added to Devex’s funding database, along with $752.6 million in programs, grants, tenders, and open opportunities. The largest new announcement made on Nov. 19 came from the government of Ghana which will oversee a $17.2 billion program to “revitalize” the country’s economy. The three and a half year strategy will see the government provide 30% of the funding, with the remaining 70% expected to come from the private sector.
In other investments targeting economic growth, the Arab Coordination Group approved financing of $8.6 billion for LMICs in response to the economic impact of COVID-19 as part of an earlier $10 billion commitment. Health and the emergency response is part of the initial funding support, with a second component supporting sustained economic growth. And in Thailand, both economic and wider social challenges will be the focus of new funding following the approval of a $1.5 billion dollar loan from the Asian Development Bank.
New details on awarded contracts from the World Bank this week provide new insights into how these big announcements are translating into impact. More than 50 have been published, with values ranging from $10,000 to $54 million — with the largest contract awarded to the World Health Organization to support the COVID response in Iran.
By region, contracts awarded by the World Bank since January have focused largely on the Middle East — particularly Afghanistan and Iran — with Central and West Africa also priority regions. Tenders with the World Bank, announcing business opportunities, have a larger footprint covering more of Africa, Latina America, Asia, and Eastern Europe.
Programs have a similar, but smaller geographic footprint to tenders. The geographic footprint of funding announcements is much larger again incorporating Europe and more of Central America. Despite the earliest funding announcement being made in February, translating this into programs, tenders, and awarded contracts is a longer and more complex process. But with funding organizations such as the World Bank, impacts are slowly being localized.
Since Nov. 8, $3.2 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $7.1 billion in programs, grants, tenders, and open opportunities. The largest new announcement in this period is a $1 billion loan from Australia to Indonesia, with the aim to ease a potential economic crisis in Southeast Asia caused by the pandemic.
The potential for economic crises is also a concern for the European Investment Bank. This week the bank forecast a program that will invest $777 million into Spain as part of a “risk participation scheme,” which will see EIB cover potential loan losses “to provide liquidity and financing for projects to mid-size and large companies within the context of the COVID-19 pandemic.”
But as vaccines are emerging as a potential game-changer in the pandemic, new investments are ensuring that vulnerable communities will not be left behind. An additional €100 million ($119 million) in funds for the COVAX facility has been announced by the European Union targeting low- and middle-income countries, expanding on a previous announcement of €100 million. The Bill & Melinda Gates Foundation has also announced an additional $70 million vaccine commitment supporting vulnerable communities.
Among other philanthropic donors, new data from the Conrad N. Hilton Foundation shows how it is directing their support. Contracts ranging from $10,000 to $3 million are supporting the strengthening of systems in high-risk countries, research into scaling up of health services, community organizations working with children and families, as well as operational response support. Africa is a key regional focus of their support.
The William and Flora Hewlett Foundation is also increasing its support, announcing a range of contracts awarded that will support better responses to COVID-19. A $1.8 million contract awarded to the International Development Research Centre will provide “rapid research policy analysis” to LMICs to “determine how to mitigate the spread of COVID-19” and manage their country’s recovery. A $1 million contract awarded to the University of North Carolina at Chapel Hill will “support and improve evidence-based decision making in Sub-Saharan Africa.” And $250,000 is being directed toward a mobile data knowledge center that will support governments in rapidly collecting and analyzing mobile data to support their COVID responses.
Since Nov. 1, $12.6 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $1.9 billion in programs, grants, tenders, and open opportunities. The largest new announcement in this period is the $1.5 billion Collaborative COVID-19 Pandemic Response Facility supported by the Islamic Development Bank, Arab Bank for Economic Development in Africa, and other multilateral and private sector partners.
“COPREFA will be accessed by eligible central banks, commercial banks and businesses to finance the import of medical supplies, as well as agricultural equipment and fertilizers essential for addressing the pressing food production deficit,” the funding announcement reads. African economies will also be supported to overcome a range of challenges created by COVID-19, including commodity price shocks, a significant drop in tourism, and disruption to supply chains and export manufacturing.
New announcements from the Japan International Cooperation Agency have also seen a boost in COVID-19 funding through bilateral aid agencies. In Myanmar, 42.7 billion Japanese yen ($415 million) in loans will be provided to finance the construction of highways and provide support to small- and medium-sized enterprises.
“This will contribute [the] mitigation of the economic impact of COVID-19 and to inclusive development of the country’s industry, as well as creating stable employment,” the announcement reads.
Loan support will also be available to Mongolia valued at $240 million and will target health, economic, and social responses. New business opportunities with JICA include consultancy services to analyze and survey food value chains in Africa, and consultancy services to assess the impact of communications technology in countering the pandemic globally.
Among other bilateral donors, the Netherlands Development Finance Company is investing $35 million to support youth, female, and migrants entrepreneurs in South Africa as part of its COVID-19 emergency facility. Kreditanstalt für Wiederaufbau is investing €20.8 million ($24.8 million) into Georgia’s fight against COVID-19. The German Federal Ministry for Economic Cooperation and Development has announced $17 million to improve global food systems and prevent zoonotic diseases. And the U.S. Agency for International Development is directing $3 million to India to support its national health, social, and economic response to the pandemic.
Contributions from the private sector have dwindled, with contributions to COPREFA its only contribution to COVID-19 funding since Nov. 1.
Since Oct. 25, $4.8 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $1.5 billion in programs, grants, tenders, and open opportunities. The largest new announcement in this period is a $1.06 billion announcement by the International Monetary Fund of new lending in support of low-income countries. Concessional support has been a key aspect of the economic stimulus being provided by IMF.
Focusing on a green-led economic recovery, a $1 billion pledge from The Rockefeller Foundation will aim to “help catalyse a more inclusive, green recovery from the COVID-19 pandemic” over the next three year. It includes plans to scale up renewable energy across low- and middle-income countries, and support billions more in public and private funds supporting a renewable energy boom.
In Brazil, an investment of $1 billion by the World Bank will also support economic recovery for vulnerable communities. This investment will scale up the conditional cash transfer program Bolsa Família, and aims to support 3 million people. Improving the use and effectiveness of digital technology is another area valued in the economic response to COVID-19, which this week includes the announcement of a $544 million program from the World Bank targeting Pakistan.
While the big money behind new funding announcements continues to target the global economic response, new business opportunities through tenders target immediate needs — and as the number of COVID-19 cases and deaths grow, that need is in personal protective, sanitation, and other health equipment.
The United Nations is leading the calls for health equipment. In Bosnia and Herzegovina, the institution is seeking isolation unit equipment supplies, as well as waste management support for health centers. In Zimbabwe, it is seeking personal protective equipment. In Ukraine, indoor air purifiers are needed. And in Bangladesh, the Asian Development Bank is seeking medical supplies, sanitizers, N-95 masks, and KN-95 masks.
An increasing focus of the response worldwide is the concern of food insecurity. Among the new funding announced was an $80 million World Bank initiative to boost the agricultural sector in Nepal, and $75 million to support the sector in India.
Elsewhere, Kreditanstalt für Wiederaufbau and the German Federal Ministry for Economic Cooperation and Development announced €40 million ($46.8 million) in support of a “sustainable agri-food value chain in developing countries,” while research into food supply chains and its impact on food security is also a priority for COVID-19 response investments.
Since Oct. 18, $1.7 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $1.9 billion in programs, grants, tenders, and open opportunities as funding for implementation of responses exceeds new announcements.
The largest new funding activity was the announcement of a $590 million program which will see the European Bank for Reconstruction and Development invest funds to support the “resilience and regulatory compliance of a systemic bank in Greece.” The program will also support the issuance of new instruments by Greek banks, and the first issuance of a green bond by a Greek bank. Through this funding, EBRD aims to target “an environment destabilised by the COVID-19 crisis.”
The World Bank is aiming to provide system strengthening support in another way, through a $304 million investment in strengthening public financial management and digital services in Pakistan. Deploying technology-based solutions to “enhance public service delivery and increase access to online services for firms and individuals” is a key part of these new funds which respond to changing needs under COVID-19.
In Cameroon, the International Monetary Fund is investing $156 million into the pandemic response, targeting health and social issues as well as the financial impact to businesses — both large and small.
Support for small and medium enterprises continues to grow as part of economic responses. In Romania, EBRD is providing $59 million in financing for SMEs “to ensure their uninterrupted access to finance following the economic consequences of the COVID-19 pandemic.” But the World Bank and International Finance Corporation are investing bigger, with $115 million being shared across four projects in Laos, Bangladesh, Turkey, and Mexico. A high proportion of SMEs within these countries and strong reliances of local economies on tourism are among the reasons for these investments.
New investment in tourism support includes a World Bank initiative to support tourism in Zimbabwe, an Inter-American Development Bank call for a consultancy service to develop a sustainable tourism plan for Brazil, and a United Nations tender to assess the impact of various interventions on tourism in the Maldives.
Tenders make up the bulk of new funding announcements, as more finance toward impact on the ground emerges. As seen previously, the geography and sectors of support with these tenders differ greatly.
A €120 million ($142 million) tender for information and communication services was forecast by the European Commission, the largest new tender with an estimated value. Support to target food security in Mongolia is the focus of a $360,000 tender with the Asian Development Bank, which will also provide support for communication services in the country.
But supplies to deal with the health response continue to be needed — including personal protective equipment, and telemedicine support. Research and analytical services are also in demand, with maternal health and evidence-based advocacy among the areas of new business opportunities in support of the COVID-19 response.
Since Oct. 11, $13.2 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $4.1 billion in programs, grants, tenders, and open opportunities.
The World Bank’s approval of $12 billion to assist lower-income countries in the purchase of COVID-19 vaccines is the leading new announcement. The funds will boost multilateral efforts currently led by the World Health Organization and the COVAX initiative, and they aim to support up to 1 billion people in receiving approved vaccinations when they are available.
A new program providing Indonesia with $974 million for health system strengthening, supported by the Asian Infrastructure Investment Bank, World Bank, and government of Indonesia, is the second-largest disbursement of funds, while the Eurasian Fund for Stabilization and Development has announced $500 million to counter the impacts of COVID-19 in Belarus. Funded over a period of up to 10 years, the money aims to support social and economic sustainability.
Australia’s aid boost of 304.7 million Australian dollars ($217.9 million) has also been added to the database. The allocation provides new assistance to the Pacific and East Timor for health and economic responses to the pandemic. Despite likely being used to fund programs that can be classified as official development assistance, the Australian Department of Foreign Affairs and Trade is instead classifying it as a “recovery fund.”
The East Asia and the Pacific region has been among those prioritized for funding since the beginning of the pandemic. While Japan and China are the leading recipients in the region, recent weeks have seen the focus shift to Indonesia, the Philippines, and Myanmar — all areas supported by DFAT in its new initiative.
Since Oct. 11, $6 million for the COVID-19 response in the Philippines has been announced, while Myanmar has received $1.4 million for a digital response to COVID-19 — funded by the United Nations — that aims to ensure no one is left behind.
The East Asia and the Pacific region has been impacted in different ways. The Philippines has confirmed over 360,000 COVID-19 cases and 6,000 deaths. Indonesia has confirmed more than 360,000 cases and over 12,000 deaths, while Thailand is yet to reach 4,000 confirmed cases, and Fiji has so far seen 32 confirmed cases and two deaths.
Health and the pandemic response remain a concern, as do the groups most vulnerable to the economic shocks brought by the pandemic — with new tenders for East Asia and the Pacific showing the diversity of needs. Priorities include countering misinformation and hate speech in Fiji, gender analysis in East Timor, inclusive workplaces for people with disabilities in Thailand, data capacity and analysis in Indonesia, and health publication support in Kiribati.
Since Oct. 4, $21.8 billion in COVID-19 funding announcements has been added to Devex’s funding database, along with $10.9 billion in programs, grants, tenders, and open opportunities. This update includes information from the World Bank and Asian Development Bank operational documents providing large-scale infrastructure and financial support to countries in response to the pandemic that were announced earlier this year. For new announcements since Oct. 4, economic objectives remain the focus.
The largest new announcement in this period was €750 million ($880 million) funding from the European Investment Bank for small and medium enterprises in Egypt. This agreement adds to other support from EIB in Egypt, with a €1.9 billion agreement for the transport sector previously signed.
In the Maldives, agreements with a range of development banks and the Japan International Cooperation Agency have helped the country secure $520 million in loans and aid for the response to the “financial recession caused by the COVID-19 pandemic.” The heavy reliance on tourism to support the country’s economy made this funding necessary.
In India, a new program supported by the World Bank and Asian Infrastructure Investment Bank will see $296 million invested in municipal service improvement in the state of Punjab. This project, identified as being funded in response to COVID-19, aims to support the urban governance, finances, and delivery of sustainable water services but will also fund short-term interventions that help respond locally to the pandemic.
To support vulnerable communities, a range of programs and grants are targeted toward specific groups — including refugees, children, and women and girls.
As part of its U.S.-based response to the pandemic, the Bill & Melinda Gates Foundation is targeting systemic racism that impacts testing at historically Black colleges and universities. The Morehouse School of Medicine, Meharry Medical College, and FAMU Foundation each received $1.5 million for access to testing for these vulnerable and overlooked groups in the national response.
The need for private sector support in the pandemic response continues to grow through tenders, grants, and contracts highlighting the diversity of needs. In Togo, the World Bank is seeking equipment, services, and personnel to help the Ministry of Health in its response — a tender estimated to be worth $8.1 million in total. Research into sustainable marine-based livelihoods in Indonesia is a focus for ADB, while online learning and training is an area in which the United Nations requires private sector support.
Since Sept. 27, $18.7 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $3.1 billion in programs, grants, tenders, and open opportunities.
Vaccines returned as a priority for donors with a pledging event hosted to raise money for the Access to COVID-19 Tools Accelerator — a program that aims to speed up the development of COVID-19 tools and ensure their equitable distribution globally. Canada, Germany, Sweden, and the U.K. were among the governments announcing financial support for the initiative, along with the World Bank, which committed $12 billion.
In other vaccine-related initiatives, the board of Gavi, the Vaccine Alliance approved $150 million to be made available to 92 low- and middle-income economies to help them prepare for the delivery of COVID-19 vaccines. And the U.S. entered into a $362,000 contract with Advanced Decision Vectors to “provide expert advice regarding development and mass production of new COVID-19 vaccine candidates, therapeutics, and diagnostics” — despite the House of Representatives’ Select Subcommittee on the Coronavirus Crisis declaring concern over a conflict of interest between ADV and pharmaceutical companies.
Economic responses also continued to dominate announcements, with €768 million ($904 million) in loan guarantees made by the European Investment Bank to support micro, small and medium-sized enterprises in Bulgaria “to finance their growth and business development plans, digital transformation and post-COVID-19 recovery,” as well as a similar program announced for Italy.
Support for vulnerable communities was also high on the donor funding list. New announcements included $600 million from the World Bank to support vulnerable communities in the Philippines, which has seen more than 300,000 confirmed cases of COVID-19. And Canadian Prime Minister Justin Trudeau announced that his country will provide $400 million in financial support to development and humanitarian responses for the pandemic globally.
Bilateral donors continue to announce new funding or support required to help pivot existing programs in response to COVID-19. As part of new funding announced to deliver basic education, health, child protection, and economic-strengthening services to children in Uganda over the next five years, the U.S. Agency for International Development said part of the $148 million allocated would “provide psycho-social support to teachers and learners during the period of COVID-19-related school closures so that they are fully prepared to re-engage once schools re-open.”
And as part of the Australia Awards program, offering scholarships to study in Australia for students from recipient countries of Australian aid, new services are being incorporated to support career counseling and job placement services due to the impact of COVID-19. A new tender in East Timor seeks to reintegrate recipients through these services.
Since Sept. 20, $17.7 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $2.8 billion in programs, grants, tenders, and open opportunities.
Highlighting the focus on economic response, the largest new announcement since Sept. 20 is a $750 million credit program for Brazil supporting micro-, small-, and medium-sized enterprises. Funded by the Inter-American Development Bank, the program is still in the preparation stage — with an executing agency to be determined — but aims to support the short-term sustainability of businesses in the country that has seen more than 4.7 million confirmed cases of COVID-19.
Peru, which has more than 800,000 confirmed COVID-19 cases, is also a focus of investment in economic recovery. Here, IDB is forecasting a $400 million investment to support policy reforms, which aims to accelerate recovery and improve the economic competitiveness of the country. The German-owned development bank Kreditanstalt für Wiederaufbau is also investing in the economic recovery of Peru, partnering with Peru's development finance corporation to invest €250 million ($293 million) in support for MSMEs.
While tenders are still calling for supplies of medical equipment and other health services, the need for consultants to support the implementation of economic programs is growing. With a budget estimated at $650,000, the Asian Development Bank is seeking support to develop an enterprise-led learning network that will target COVID-19 affected industries in the Philippines — including tourism — to support new skills development. In Madagascar, the United Nations Development Programme is seeking support for the management and delivery of microfinance programs. And in Colombia, IDB is seeking support for the development of a tool that will evaluate the resilience and sustainability of public-private associations in the face of disasters — including COVID-19.
When it comes to tracking the data from funding announcements to deliverables, including tenders, multilateral institutions have been among the most transparent funders. But to date, the largest investments have come from governments targeting the needs of their own countries — health, economic, and social. In total, governments are supporting $12.2 trillion of announcements, according to the Devex funding data. While governments have been open in publicly announcing their measures of support, it is an area of funding that is proving difficult to track beyond that point.
From governments, Devex funding can track $3.2 billion that has been directed to programs, $251.7 million to grants, $355.1 million in tenders, $64.7 million in open opportunities, and $17.9 million in signed contracts. This data is heavily concentrated in countries such as the U.S. and U.K., where there are more transparent reporting processes or initiatives that are in partnership with other development funders. How government announcements are being translated into action in low- and middle-income countries is a particular challenge for COVID-19 funding data.
Since Sept. 13, $2.5 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $1.5 billion in programs, grants, tenders, and open opportunities.
A $1 billion loan for Angola announced by the International Monetary Fund is the largest new funding announcement in the past week. This money is additional to previous lending provided by IMF to support the country “as its economy struggles with the COVID-19 downturn and global drop in crude prices.” Increasing non-oil revenue is expected to be one of the objectives as part of this new loan.
Two loans totalling $770.5 million from the World Bank to the Philippines, supporting tourism recovery and economic sustainability, are also among the largest new announcements. Promotion of domestic tourism and improving disaster preparedness and response for Bohol, Siquijor, and Siargao Islands are among objectives to support a tourism “bounce back,” with other funds “advancing structural reforms on competitiveness and resilience.”
Angola is the focus of another large announcement from the World Bank, valued at $145 million and targeting health resilience and nutrition security. Severe drought combined with the “disruptions caused by the COVID-19 pandemic” create the risk of a larger humanitarian crisis this program aims to address, and with just over 4,000 cases and 150 deaths, the expectation by the World Bank is that “Angola is in its initial transmission stages of the pandemic” with worse to come.
Continuing the trend of past weeks, the bulk of new funds is being targeted at the economic response to COVID-19 — 31% of new funding, programs, grants, tenders, and opportunities have an economic component. But geographically, the new funds are focused on areas where there is growing need. With a focus on Angola in large announcements, Southern Africa is the priority region for donors. Gender-based violence, rapid response funds, and the promotion of safe and reliable medicines are among the diverse needs of this region.
East Asia and the Pacific, and South Asia are the other priority regions for donors. For East Asia and the Pacific, the focus is on sustainable infrastructure, formal credit access, and food security — and a similar project profile in South Asia. Tenders for both regions are heavily focused on equipment to help in the COVID-19 response — including medical and hygiene supplies. Any funding directed toward health systems since Sept. 13 has been almost entirely focused on these three regions.
Since Sept. 6, $12.9 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $980.9 million in programs, grants, tenders, and open opportunities.
The funding was announced by Leonard Mizzi of the European Commission at the African Green Revolution Forum held last week, where he provided insight on the objectives and how the funding will be delivered. The money aims to stimulate local economies as part of the COVID-19 recovery.
Developing local and regional markets and funds for infrastructure that will support economic growth are also a priority. But all projects will need to be in line with the European Green Deal to support carbon-neutral economic growth.
Infrastructure is also a focus of a $1.7 billion initiative for Mozambique, announced by the U.S. International Development Finance Corporation, which will see energy and infrastructure as the focus of economic recovery from COVID-19 in the region.
This announcement was made as part of $3.6 billion in investments approved on Sept. 9, with other investments in response to COVID-19 including a $250 million capital loan for the Africa Finance Corporation, a $100 million loan for Crédito Real to support small and medium-sized enterprises in Mexico, $20 million to stimulate growth of women-led SMEs, $10 million for affordable housing in El Salvador, and a $75 million loan to ReNew Power in India to enable “shovel-ready energy projects” to move forward.
For the Central American Bank for Economic Integration, public infrastructure is the focus of a $1.4 billion infrastructure investment in El Salvador in partnership with the governments of El Salvador and South Korea. Strengthening the prison system, construction of roads and bridges, updating a water treatment plant, improving public offices, and social benefit schemes are among the ways this investment aims to stimulate the economic recovery from COVID-19, in addition to putting the country on a path for improved governance moving forward.
While economic recovery continues to be the focus of the majority of new announcements on a weekly basis, the growing concern of food insecurity today and the long-term impacts on agricultural production and trade has seen a range of new funding and tender opportunities announced to respond to emerging threats.
As part of a €475 million package of support for India from the German Federal Ministry for Economic Cooperation and Development, ensuring the distribution of food to 800 million people is a key objective. In Madagascar, $90 million has been set aside from World Bank funding to procure goods and services that will help improve nutrition outcomes — a response to growing health concerns from the impact of COVID-19.
For the Food and Agriculture Organization, the procurement of legume seeds and cereal seeds is an urgent priority in Malawi as part of the United Nations’ COVID-19 response in this country, while the U.N. is seeking consultants in Vietnam to support an assessment of a green and sustainable shrimp supply chain in Bac Lieu province, with the aim of helping shrimp farmers deal with the new normal created by COVID-19.
Support for health systems is still important as the world nears 30 million coronavirus infections. New announcements from the last week include a $952,000 donation from the Asian Development Bank to procure medical supplies in Uzbekistan as case numbers rise.
But for organizations seeking funding, strong links to economic stimulus in response to COVID-19 are increasingly important— and a growing priority — for funders. Showing how proposals can enable communities to return to work safely and stimulate local economies and supply chains may enable a greater chance of success.
Since Aug. 30, $17.5 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $1.4 billion in programs, grants, tenders, and open opportunities. No newly announced initiatives have exceeded the billion-dollar mark.
Supporting India, the largest new announcement was a €650 million ($767 million) investment by the European Investment Bank for the construction of a metro rail line in the northern city of Kanpur, aiming to “unlock new employment and education opportunities” in the region.
“The EIB investment will accelerate the social and economic recovery of the city in the aftermath of the COVID-19 pandemic and support the long-term re-emergence of the local economy,” the announcement read.
Transport and large-scale infrastructure projects have been an important part of announced projects as countries seek to stimulate their local economies — and create new employment opportunities. Since January, development banks have been leading the investment in this space. In addition to the rail project for India, EIB has supported an investment of €1.9 billion toward transportation and enterprise development in Egypt, €1.1 billion to improve urban transport and housing in Europe and Africa, and €40 million toward the Eiffel Energy Transition Fund.
Improving transport safety has been part of the large-scale, transport-focused projects from the World Bank, which in August pledged $475 million to improve public transport, enabling services to limit the spread of COVID-19 in Bangladesh. Earlier investments included $84 million to improve airport transport safety in Haiti and $45 million for air transport safety in Saint Lucia as they looked to support improvements to wider transportation networks.
The International Monetary Fund has been among the biggest investors in clean energy projects in June announcing a $3 trillion initiative to support a global transition to a green energy future in response to COVID-19, with support for energy companies and maintaining energy supply chains also important focal areas of energy investment.
A $225 million geothermal energy project to support El Salvador and a $47.8 million initiative supporting renewable energy and sustainable transport in Thailand are among other new large-scale transport and infrastructure projects announced in the past week by the World Bank and Asian Development Bank respectively, continuing this area of economic investment.
Details of new contracts awarded by the Bill & Melinda Gates Foundation are providing an insight into the COVID-19 response from a research perspective. A total of 10 contracts were published on Sept. 3 with a focus on vaccines, treatments, and health.
$1.5 million was awarded to PATH to provide services that will enhance clinical trial capabilities, including quality assurance and control systems. Low- and middle-income countries will be supported through this program as part of phase three COVID-19 vaccine tests.
Supporting vaccine data insights, Seattle-based research company Linksbridge was awarded $507,000 to “support partners with data analyses around COVID-19 vaccines for low-resource settings”, and Carolina-based Mediana has received $300,000 to provide clinical trial simulation services “to improve the informativeness and efficiency of COVID-19 clinical studies”.
Understanding the severity of COVID-19 and its correlation to immunity is also a focus as part of a $100,000 contract awarded to Stockholm-based Karolinska Institutet.
To date, $302 million has been awarded by the Gates Foundation in contracts supporting COVID-19 objectives.
Since Aug. 16, $20.2 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $15.2 billion in programs, grants, tenders, and open opportunities. This period has seen a number of billion-dollar announcements boosting the investment to date.
The government of Thailand announced $5.3 billion in support for small and medium-sized enterprises and individuals impacted by the pandemic. To date, there have been over 3,400 cases of COVID-19 in the country. The new program will involve loans delivered by the Thai Credit Guarantee Corporation, Government Savings Bank, Ministry of Finance, and Small and Medium Enterprise Development Bank of Thailand to support a range of sectors, including businesses reliant on tourism.
Guyana has over 1,300 confirmed cases of COVID-19, a number that is quickly accelerating and has challenged an already struggling health system. In response, the government has announced $4.5 billion for the procurement of medical supplies — supported by the World Bank,
In Panama, the Multilateral Investment Guarantee Agency and International Monetary Fund have announced $1 billion in loan facilities to support private sector support and recovery from the economic impacts of the pandemic.
The economic response has produced $18.3 trillion in funding announcements to date, and it continues to dominate the COVID-19 funding database updates. But there is still much to learn about how it is impacting businesses and the best way out of the economic crises, with new funding aimed at gathering evidence and information that is needed to be effective in responses.
The Japan International Cooperation Agency announced a tender aimed at gathering information on the impact of COVID-19 to port activities in South East Asia and the Pacific, which will help understand critical trade flows in the region. In Ethiopia, Kreditanstalt für Wiederaufbau is seeking a feasibility study to improve the agricultural value chain. And in the United States, the Centers for Disease Control and Prevention is investing $11.2 million in research on safe work practices as communities continue to be under threat of COVID-19.
The focus on the economic impact is not just about supporting livelihoods. Increasingly, donors are concerned about civil unrest that both the economic and health impact of the pandemic will create. In the Philippines, which has so far seen over 200,000 confirmed cases and over 3,000 deaths, the World Bank is concerned about the increased uncertainty is creating for vulnerable communities in the Bangsamoro Autonomous Region in Muslim Mindanao — and is investing $850,000 for “participatory, inclusive and conflict-sensitive resource-based planning and management” in the region.
In its submission to an inquiry into the implications of the COVID-19 pandemic for Australia’s foreign affairs, defence and trade, Australia’s Department of Foreign Affairs and Trade noted regional security as a concern for their programming moving forward.
“The crisis could also have significant implications for regional security,” DFAT said. “The pandemic potentially increases existing threats such as transnational crime, cybercrime, terrorism, weapons proliferation, people smuggling and human trafficking. In some regional flashpoints, actors could see an opportunity to make gains while governments are preoccupied with domestic imperatives.”
To date, DFAT’s COVID-19 funding has focused on supporting the Indo-Pacific region in its health response, but targeted programming for civil and political unrest may soon emerge.
Since Aug. 9, $2.4 billion worth of COVID-19 funding announcements has been added to Devex’s funding database, along with $3.4 billion in programs, grants, tenders, and open opportunities. Compared with previous weeks, this is a slowing of new funding announcements responding to COVID-19, with none in the past week passing the billion-dollar mark.
A $250 million project from the World Bank supporting Niger in “laying the foundation for inclusive development policy financing” was one of the largest new announcements, which continues the trend in economic response and recovery. Matching this amount was $250 million in financial support from the government of India for the Maldives — through a soft loan — with the aim of creating budgetary support for the country.
In the past week Belize, Trinidad and Tobago, and Papua New Guinea have seen the highest percentage growth in COVID-19 cases, but no new announcements have targeted these regions specifically.
To date, 14 funding announcements have targeted Belize, with $195 million in support. Among the donors supporting Belize are the Caribbean Development Bank, OPEC Fund for International Development, and Inter-American Development Bank, with Global Affairs Canada the leading bilateral donor. Supporting the immediate response and vulnerable communities has been a priority for donors — including social assistance for poor and vulnerable households, as well as income support.
PNG has seen 13 funding announcements, valued at $926 million. But despite the country’s public health being described as in “crisis” last year, the focus of funding has been on the economy.
The International Monetary Fund disbursed over $363 million to support the government of PNG in responding to economic losses caused by the pandemic, with the World Bank similarly providing $20 million in support. But with health systems in PNG reliant on aid support, Australia’s Department of Foreign Affairs and Trade has been the leading donor in this space — including $13 million for the provision of reagent and extraction kits and $9.6 million in funding for provincial health authorities.
In Trinidad and Tobago, 14 funding announcements have seen $1.5 billion invested in response to the COVID-19 pandemic. It is among the countries announced to benefit from China’s vaccine support, with economic recovery also a priority area of investment. Banco de Desarrollo de América Latina has provided two loans supporting economic response and strengthening of health systems, and IDB has also provided a $100 million loan to “implement fiscal and financial measures to offset the negative impact of the pandemic on its economy and the lives of its citizens.”
Of the new funding announcements since Aug. 9, the regional focus has been elsewhere. South Asia was the leading region for new COVID-19 investments with $294 million, followed by North Africa and the Middle East with $289 million and West Africa with $239 million.
Since Aug. 3, $25.4 billion worth of COVID-19 funding announcements have been added to Devex’s funding database, along with $10.5 billion in programs, grants, tenders, and open opportunities — with a COVID-19 response package for South Africa, worth $4 billion, as the largest new announcement. To date, South Africa has over half a million confirmed cases of COVID-19 and more than 10,000 deaths. The daily increase in confirmed cases has averaged almost 7,000 in the past week.
Announced on Aug. 5, this partnership between the New Development Bank, World Bank Group, International Monetary Fund, Asian Development Bank, and African Development Bank has three key components supporting South Africa: “Protect Lives and Promote access to essential COVID-19 goods,” “Protect Livelihoods,” and “Protect Firms and Businesses for Economic Resilience and Recovery.”
A $1.5 billion loan from ADB to Thailand supporting the social and economic response to COVID-19 is the second-largest new announcement since Aug. 3. Despite Thailand having just over 3,000 confirmed cases, the country’s economy is forecast to contract by 6.5% this year — prompting concern that this may impact trade and economic partnerships with neighboring countries.
Among the business sectors most affected by COVID-19 is the tourism industry, which has essentially been grounded. As this sector has been an important focus of economic development in recent years, it has also been an area of economic investment in response to the pandemic. Since Jan. 1, there have been 25 funding announcements worth $4.3 billion in support of the tourism sector. This has translated to 10 programs worth $96 million, three grants worth $60,000, and 10 tenders worth $780,000. And new initiatives continue to target support for this sector.
The European Bank for Reconstruction and Development is supporting sustainable development in the Egyptian tourism sector through a $29.2 million investment — including a provision of up to $12 million to “finance the development and operation of a new hotel under the Hyatt Regency brand in West Cairo.” The Inter-American Development Bank has also announced new support for tourism with a $1.5 million program to support the digitization of the tourism sector in Latin America and the Caribbean. With this investment, the bank hopes to support faster reactivation of tourism activity in the region when travel can occur safely.
Environmental impacts and linking the COVID-19 recovery to climate adaptation have also been priorities of funding with an eye on the economic recovery. A total of 24 funding announcements, worth $2.9 billion, have been announced, with the United Nations and Global Environment Facility as leading donors in this space. Among the newest announcements is a $13.4 million program funded by EBRD to “address the legacy of oil production activities in the Balkan region of Turkmenistan” — linked to COVID-19 support by mitigating the impact of COVID-19 on company operations.
Gender-focused initiatives have so far seen 84 funding announcements worth $25.8 billion, with support for small and medium enterprises that are women-owned as an area of focus in this sector with a link to economic development. When it comes to delivering on these announcements, this has so far produced 17 gender-focused programs worth $2.7 billion, 64 tenders worth $201 million, 72 grants worth $153 million, 17 open opportunities worth $720,000, and 41 contracts awarded worth $16 million. It is a sector of focus supported by governments, bilateral donors, multilateral donors, philanthropic institutes, and the private sector.
Among the new opportunities is a grant program with the Agence Française de Développement providing up to €250,000 ($290,000) to finance feminist organizations building equality between women and men — a goal intended to help rebuild communities in the pandemic. And in the Philippines, UN Women is supporting a grant program that will promote women’s safety, along with their ability to influence and contribute to government policies responding to the health crisis.
Since July 27, $35.9 billion worth of COVID-19 funding announcements have been added to Devex’s funding database along with $3.9 billion in programs, grants, tenders, and open opportunities — with a number of new announcements exceeding $1 billions.
The approval of Liberia’s membership to the Asian Infrastructure Investment Bank, announced on July 29, will put them in a position to benefit from a $10 billion COVID-19 support package for member countries. Infrastructure and transport are expected to be areas of AIIB investment within Liberia, but no specific programs were announced.
In support of South Africa, the International Monetary Fund approved $4.3 billion in emergency financial assistance to support the country in its pandemic response — with a focus on the economic impacts.
In the Asia-Pacific region, the Asian Development Bank announced $1.2 billion supporting the production and trade of “goods crucial to the ongoing fight against the coronavirus disease” in the region — including pharmaceuticals and personal protective equipment. The program aims to support investment in small- and medium-sized enterprises in the region.
While these new announcements continue to focus on economic responses, new announcements from NGOs and civil society organizations focus on education and the needs of vulnerable communities. But new announcements have slowed.
In Burkina Faso, Mali, and Niger, Education Cannot Wait announced $13 million in support to scale up access to quality education. The program aims to support 247,000 children — 55% female. This brings the total amount of their investment over the last four months to $60.1 million.
In Palestine, a tender opportunity with the Norwegian Refugee Council aims to improve the organization’s understanding of the livelihoods and food security in the region — with the impact of COVID-19 an important part of the study to direct future programming. In Afghanistan and Colombia, NRC is seeking support to research non-state armed groups’ behavior during the pandemic.
In Australia and the United States, a range of community funds have also been announced supporting local recovery efforts.
While there have not been a large number of new announcements from this sector, it does not suggest that it is declining in priority. With COVID-19 impacting all areas of programming and delivery, existing programs are being adjusted rather than new ones developed.
Similarly, the private sector is making few new announcements on initiatives supporting the global response. But where there are announcements, they are in partnership with development banks to support sustainable economic growth of job development. A $200 million announcement targeting the economic and social impacts of COVID-19 in India is one such example.
In understanding the ongoing community needs, it is government announcements that show the diversity of social, economic, and health needs as they are the primary responders to their community.
In the past week, economic programs have seen the largest financial investment including business support programs announced in the Philippines and Maldives. But just behind is investment in health systems which still continue to struggle under the weight and acceleration of the pandemic.
Medical equipment and testing are ongoing needs. For governments, the third largest priority for new investments has been food security — including $73.9 million in support for Myanmar’s agricultural sector.
Since July 19, $34.9-billion worth of COVID-19 funding announcements have been added to Devex’s funding database along with $7.1 billion in programs, grants, tenders, and open opportunities — with five new announcements worth billions.
The largest new funding announcement since July 19 has been a $3.7 billion support package from the African Development Bank and African Investment Forum for the private sector in Angola, Mozambique, and Nigeria — continuing the trend of large investment in economic development.
A $1.5 billion investment to boost projects in the Philippines by the Asian Development Bank continues this economic focus as the second-largest new announcement. Initiatives focused on economic recovery in Brazil and Honduras — both worth $1 billion — follow.
The only non-economic billion dollar announcement was a loan from China to support greater access to a COVID-19 vaccine in Latin America and the Caribbean.
In the vaccine space, new announcements have been slowing. Aside from this announcement from China, all additional vaccine and treatment funding has been through contracts awarded by the Bill & Melinda Gates Foundation. This includes services to discover new drugs, vaccine evaluation, and a treatment effectiveness comparison.
In the research space there is more activity. Again, with the Gates Foundation as a leading donor.
Two-and-a-half million dollars is being provided to support data and modeling in the coronavirus response. Research to improve an understanding of COVID signs and symptoms is being undertaken, along with gendered risks. From the United Nations, clusters are being analyzed along with employment demand and human rights.
Food security is also picking up in the investment space with new announcements from the World Bank, the Japan International Cooperation Agency, European Bank for Reconstruction and Development, Netherlands Development Finance Company, and the U.S. Agency for International Development.
The World Bank is supporting Sierra Leone with $30 million to boost agricultural productivity and market access. JICA is also focused on Africa with a $28 million loan to support nutrition in Rwanda. EBRD is providing a $27 million loan to Ukraine in support of sustainable agricultural trading volumes. FMO is supporting Paraguay’s agricultural sector with an $18 million investment. And USAID is providing food assistance to Iraq at a cost of $6.3 million.
On the business opportunity side, consultants continue to be in high demand with multilateral institutions and bilateral donors. Among the new opportunities are monitoring and evaluation services for the Asian Development Bank in Pakistan, hygiene behavior change training for a U.N. project in Indonesia, improved hotline services for migrant women facing violence with the U.N. and European Union, and market assessments of non-state education with USAID.
Among tenders on offer, leading donors including the U.N. continue to advise respondents on the need to have a COVID-19 plan in place which forms a critical part of awarding contracts.
Since July 12, $34.8 billion worth of COVID-19 funding announcements have been added to Devex’s funding database and $3.9 billion in programs, grants, tenders, and open opportunities have been announced.
The largest new funding announcement as of June 19 has been for a $29.1 billion readiness and response program in Egypt, supported by the Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, International Islamic Trade Finance Corporation, Islamic Corporation for the Insurance of Investment and Export Credit, and private sector partners.
As of June 21, Egypt had reported more than 88,000 confirmed cases of COVID-19 and over 4,000 deaths.
The funding, to be administered by the Egyptian Ministry of Planning and Economic Development is focused on infrastructure and other economic development in response to the pandemic.
As with previous updates to the COVID-19 funding database, economic support has been the primary focus of the large funds. In addition to the funding program in Egypt, new economic-focused programs include $408 million from the government of Dubai to reduce the impact of the pandemic on businesses in the United Arab Emirates, a €300 million ($342 million) energy project in Tunisia funded by the European Bank for Reconstruction and Development, and €200 million to respond to economic impacts in both Domincan Republic and Brazil.
To date, economics has been a component of 672 funding activities with a value of $18.3 trillion.
WASH, one of the focus areas added to the funding analysis this week, has received a much smaller share of funding. By funding announcements, WASH has featured in 46 announcements with a value of $3.3 trillion. Among programs, it is featured in 10 initiatives valued at $261.7 million. Seven grant programs have seen contributions to WASH valued at $2 million, while 10 WASH-related contracts have been awarded valued at $5.3 million. But programs specific to areas of development assistance such as WASH are more recent, emerging as an area of COVID-19 funding assistance as the needs of vulnerable groups are better understood.
Among the new funding announcements since July 12 supporting WASH are a $50 million funding forecast for Ghana with the United States Agency for International Development, a $25 million funding announcement to establish a global hygiene institute, and $40,000 on offer as part of a waste recovery innovation challenge funded by the Coca-Cola Foundation.
Food security programs have received a higher share of the funding pie. A total of 114 funding activities have supported food security initiatives in response to COVID-19, valued at $12.9 billion, with India and Zimbabwe focal regions for investments. These announcements have led to the establishment of 14 programs with a value of $1.1 billion, 8 grants worth $10.3 million, and 15 contracts worth $2.7 million.
Since July 12, new programs supporting food security initiatives include $28.5 million from EBRD to satisfy food demand in Turkey, $10 million from the Asian Development Bank to support the dairy value chain in Bangladesh, $10 million from the World Bank and International Finance Corporation to support the agricultural sector in Paraguay, and $10 million from the German Federal Ministry for Economic Cooperation and Development and KfW supporting smallholder farmers in Zambia.
In addition to more targeted development programs the data is also seeing the increased use of consultancy services as part of COVID-19 program delivery. A total of 192 tenders have been released calling for consultancy services, with seven contracts awarded.
Among the new consultancy requirements since June 12 are services to develop and deliver a distance education platform for ADB, assess mobility and connectivity in Croatia for the World Bank, research local government COVID-19 response in Vietnam for the United Nations, and design and delivery of rapid phone surveys in Mexico.
Since July 5, $7.3 billion worth of COVID-19 funding announcements have been added to Devex’s funding database; $4.9 billion in programs, grants, tenders, and open opportunities have been announced. Comparatively, it has been a slow week for new funding announcements, with no new projects passing the billion-dollar mark.
The $750-million support from the World Bank to help the Indian government preserve finance flows to micro and SMEs is the largest new funding announcement since July 5. It is one of a number of initiatives based in India, which has seen approximately 500 deaths per day over the past week. The importance of SMEs in supporting the economy has been a government focus for the past few weeks. This sector of the economy supports a large component of the workforce in India. It is also an area the private sector is keen to support. Mastercard announced $33.2 million in support for Indian-based small businesses.
Other areas of focus in India include payment solutions, COVID-19 communications, and agri-nutrition gardens — all tender opportunities from the United Nations open for submission. The education sector is also a focus for India, and will have a share in the $100 million delivered by the Asian Development Bank and Qatar-based foundation Education Above All to develop projects targeting out-of-school and at-risk children in primary education. Afghanistan, Bangladesh, Indonesia, Myanmar, Nepal, Pakistan, Papua New Guinea, Philippines, and Sri Lanka will also be supported by this initiative.
Indonesia, which has seen a daily average of 2,000 new cases and over 70 deaths over the past week, has also been a funding focus. In addition to being supported by the $100 million education initiative, ADB is supporting Indonesia with $15 million targeting dairy farmers and food security.
The Australian Department of Foreign Affairs and Trade has also announced $2.2 million Australian dollars ($1.5 million) to support disaster mitigation and climate change activities in response to COVID-19 in Indonesia, however, the money is a redirection of existing Australian aid allocated funds. The U.N. is also focusing on Indonesia as part of a grant program to support vulnerable communities and groups. A newly announced partnership to increase the uptake of renewable energy is hoped to improve economic opportunities and development.
Continuing the financing trend, development banks and multilateral institutions continue to lead the big investments.
ADB and the Asian Infrastructure Investment Bank are jointly financing a €662 million ($748 million) loan to the government of Kazakhstan supporting the pandemic response. The European Investment Bank is contributing to a €467 million program supporting financing for SMEs in Romania. Early childhood and sugar and soybean farming are among other large funding activities announced in the past week.
Compared to multilateral donors, new funding from bilateral donors with a central COVID-19 focus has slowed.
The U.S. Agency for International Development has made the biggest new announcements focusing on food security. Over sixty million dollars will be directed for assistance in Zimbabwe, along with $7 million for Bangladesh. Finland’s Ministry for Foreign Affairs has also announced a new €3.5 million fund supporting the global response. The Japan International Cooperation Agency announced a grant round to support innovative solutions to COVID-19.
This decline among bilateral donors may suggest a mainstreaming of COVID-19 into development programming with the response and recovery phase expected to impact countries for years to come.
Since June 30, $24.5 billion in funding announcements for COVID-19 has been added to Devex’s funding database, and $8.5 billion in programs, grants, tenders, and open opportunities has been announced. The $5.5 billion commitment at the Brussels IV Conference on Supporting the Future of Syria and the Region assisted with the increase in funding announcements, with a number of additional billion-dollar announcements.
As Ethiopia surpasses 6,000 cases of COVID-19, a new program supported by the African Development Bank, International Monetary Fund, World Bank, and Korea Eximbank will invest $1.45 billion in the country’s national response. According to the appraisal report for the program, COVID-19 risks accelerating food and environmental crises, creating a higher rate of youth unemployment and causing Ethiopia’s 2020 gross domestic product growth to decline from initial projections of 7.2% to as low as 2.6%. This program, now active, will be implemented by the Ministry of Finance and Economic Cooperation, with procurements and the division of funds now expected.
Brazil, home to the second-highest number of COVID-19 cases and deaths after the U.S., will also see a $1 billion investment for the response. Funded by the Inter-American Development Bank, this forecast program will be focused on the most vulnerable groups impacted by the crisis to ensure “minimum levels of quality of life,” including support for a minimum income and employment levels during and after the pandemic.
India and the Philippines, where cases and deaths continue to accelerate, are also the focus of major funding announcements. The International Bank for Reconstruction and Development and the World Bank have announced that funding of $750 million will be made available to support small and medium enterprises in India, with the aim of maintaining a lifeline for the estimated 150 million to 180 million people whom these businesses employ. And the Japan International Cooperation Agency and Asian Development Bank are collaborating for a loan of 50 billion Japanese yen ($460 million) to the Philippines government for stimulating the economy.
The growing number of tender opportunities, supporting the implementation of funding activities and programs, shows the sustained diversity of needs required in the global response to COVID-19. Consultancy services are being sought in areas such as data and analytics. In Pakistan, consultancy services for digital health and social protection aim to boost the digitization of basic health registries and build health-related data to better support service delivery and policy development.
In Senegal, services are being sought to help the U.S. Foreign Agricultural Service collect information from stakeholders and beneficiaries to help deliver the COVID-19 response. And in Kuwait, the United Nations is seeking to prepare an analysis of the country in a number of areas for the COVID-19 response — including food security, social services, economic stability, and public health.
Procurement of supplies continues to be a priority to deliver basic health services, including respiratory and diagnostic equipment, beds, a blood gas analyzer, and medicines. With the number of COVID-19 cases rising, including in low- and middle-income countries, further procurements for the health response will be an ongoing requirement.
Since June 23, $52.4 billion in funding announcements for COVID-19 have been added to Devex’s funding database, and $15.2 billion in programs, grants, tenders, and open opportunities have been announced. The “Global Goal: Unite for our Future” pledging summit, organized by the European Commission and Global Citizen, mobilized €6.2 billion ($6.9 billion) in additional funds to develop and ensure equitable access to coronavirus vaccines, tests, and treatments. These pledges contributed to the largest increase in COVID-19 funding in the past week.
While these funds contribute to a global program, other billion-dollar-plus commitments target specific countries and their economic or health system needs. The government of Nigeria announced it will be committing $5.9 billion as part of a sustainable economic response to COVID-19, while $2 billion is being earmarked for Thailand and $1.8 billion for South Sudan also for economic support. Brazil, Indonesia, and Kazakhstan are also the focus of billion-dollar program and funding announcements.
Multilateral donors continue to dominate the financing behind many announcements, with government system strengthening and economics the focus of funding. For donors such as the World Bank, large-scale infrastructure projects are an important part of keeping economies from crashing further and keeping people in jobs. These include a regional transport corridor for Bangladesh, at a cost of $758 million, as well as $500 million for further road improvements and digital connectivity in the country. In Nigeria, the World Bank is focused on the power sector, with a $750 million loan, while in Costa Rica, it is investing $300 million in green industry development.
While multilateral donors are focusing on the economy, philanthropic donors continue to invest in research, vaccines, and support for vulnerable communities.
Since June 23, the Bill & Melinda Gates Foundation has made available information on 22 contracts entered into supporting $21.3 million of investment.
$7.3 million has been awarded to Wits Health Consortium to evaluate the safety and immune responses of a candidate COVID-19 vaccine in South Africa, with a focus on individuals living with HIV. $1.7 million has been awarded to the Liverpool School of Tropical Medicine to assess whether malaria infection affects the clinical course of COVID-19 in Kenya. And $1.6 million has been awarded to the Clinton Health Access Initiative to help Ethiopia-based health centres procure or produce required respiratory equipment required to respond to COVID-19. Improved gender-disaggregated data to better understand the impact of COVID-19 on women versus men is also a focus of its new grants.
The Kahane Foundation, based in Switzerland, has also been a leader of philanthropic action in response to COVID-19 with nine awards announced. Its focus on vulnerable groups in Europe has seen announcements focusing on medical aid in Italy, at-risk children in Switzerland, and food supplies in Germany.
The $3 trillion commitment by the IMF for global clean energy is the largest new funding announcement since June 14 — and it links to COVID-19 funding through its intent to stimulate economic growth between 2021 and 2023. The financing of infrastructure, energy, and other large-scale construction projects is a common approach for donors and governments. These projects seek to create jobs through various stages of development — from design and procurement of materials to construction.
Among other new infrastructure projects, the Asian Development Bank on June 18 announced a $495 million investment in India to sustain operations of renewable energy during the COVID-19 pandemic. The project is considered part of the emergency response for the country. In Bangladesh, ADB is supporting a $100 million loan for road improvement works, which aims to boost the local economy. And on June 15, the South Korean Ministry of Economy and Finance announced a $12 billion initiative for large-scale global infrastructure projects — which South Korean companies will benefit from.
Through investments such as these, multilateral donors have stamped their mark as the leading donors for projects related to the economic recovery from COVID-19.
While global initiatives remain the focus for multilateral donors, funding activities added to the Devex database over the past week have seen a large focus on India. In addition to the renewable energy project, ADB and the Asian Infrastructure Investment Bank announced a $750 million commitment to strengthen the COVID-19 response for poor and vulnerable households in India. And Agence Française de Développement announced €200 million ($226 million) for vulnerable groups.
Kyrgyzstan, Tajikistan, and Mongolia followed as places of priority.
Multilateral donors continue to make a big impact in the response and recovery from COVID-19 as new announcements slow from bilateral donors, governments, nongovernmental organizations, philanthropic donors, and the private sector. This does not mean, however, that these announcements are any less impactful.
Among bilateral donors, the U.S. Agency for International Development announced a $173 million program for the COVID-19 response in Bangladesh — including food assistance and support for the health sector — among a range of other new announcements. Meanwhile, the Japan International Cooperation Agency has announced agreements to improve an international airport in Laos and support the training of doctors and nurses in Mongolia.
For NGO and civil society organization donors, new initiatives include food assistance for refugees in Gaza, aid to Iranian families, and collaborative partnerships to address the challenges of COVID-19 in Jordan. Among philanthropic donors, The Coca-Cola Foundation announced $17 million for the COVID-19 response in Africa, while new private sector announcements include one initiative from the Commercial International Bank of Egypt and another from Uber Eats. Among these donors, new announcements are increasingly focused on development challenges and regions seeing growing or emerging issues created by the COVID-19 pandemic.
EIB’s €7.5 billion in financing for new projects was the leading new funding activity announced since June 7. But it is one of many new announcements from development banks through funding activities and programs.
Strengthening the COVID-19 response in Nigeria is the focus of a new collaboration between the World Bank Group, International Monetary Fund, and African Development Bank, valued at $5.2 billion. A $2 billion collaboration between the Asian Development Bank and Asian Infrastructure Investment Bank is focusing on the response in Thailand. Both programs include funding components for health care, business, and social protection.
Other announcements in excess of $1 billion include a $1.5 billion package for Pakistan, a $1.1-billion bond supporting World Bank member countries, and $1 billion targeting the response in Mexico.
The role various donors are playing is starting to become more established. Development banks, multilateral donors, and the private sector are focusing on continuing the strong investment in activities and programs targeting the economic response. Bilateral donors are focusing on protecting vulnerable communities, followed by strengthening health systems. Governments are targeting broader response needs within their borders. While NGO and philanthropic donors are focusing on health systems.
Among bilateral donors, new announcements and opportunities from the U.S. Agency for International Development continue a diverse geographic and thematic response to COVID 19. Bangladesh, Cambodia, Haiti, Morocco, Nepal, and the Philippines are among the geographic focus of new announcements.
Support for the private sector; hygiene and sanitation awareness campaigns; support for vulnerable communities; and maternal, newborn, and child deaths are the sectoral focus of new funding activity announcements.
A new tender is providing an opportunity for consultancy services to report on communication and community engagement as part of the COVID-19 response in Morocco, and a $15 million grant to strengthen information technology capacity in Cambodia aims to improve opportunities for the country’s economic growth.
A grant opportunity supported by the Swedish International Development Cooperation Agency and International Development Research Centre is aimed at improving the use of artificial intelligence and data science to support the COVID response. And there are new tender opportunities with the Belgian Development Agency and Danish International Development Agency, which seek support for translation, analysis of food security risk, and an urban development study.
The largest new tender opportunity calling for private sector support in the COVID-19 response is a $120 million opportunity with the World Bank to support health resilience in Lebanon — a country with 1,464 known COVID-19 cases as of June 16 but a health system that is unlikely to cope with a large outbreak. Among the requirements: capacity building for testing, improved IT surveillance systems, and a better case management system to support health workers. Equipment to be procured as part of the tender includes COVID-19 detection and surveillance equipment, personal protective equipment, and hospital equipment for housing and supporting patients.
Honduras, a country with 9,178 known COVID-19 cases as of June 16, which is growing rapidly, is another region the World Bank is calling for tenderers to strengthen the health response with an opportunity valued at $20 million.
At $8.8 billion, support for the Gavi replenishment is the largest new announcement since May 31 and part of a $12 billion funding boost for vaccine development and research announced in the last week. Among the replenishment pledges were $1.6 billion from the Bill & Melinda Gates Foundation, 300 million Australian dollars ($207 million) from the Australian government, and $20 million from China.
Gavi has also used the past week to unveil a new program in partnership with the Gates Foundation, providing a $547 million grant for improving access to vaccines in Kenya. In European politics, vaccines continued to be a priority outside of Gavi. A new funding announcement from the European Union will see $2.7 billion spent on the advance purchase of “promising” COVID-19 vaccines for member countries — with the anticipation that this may result in a loss if some vaccines are not successful.
The Latin American and Caribbean region was a focus of new funding announcements — including $138 million for Barbados, $10 million for the energy sector in El Salvador, and $3 million from South Korea for Venezuelan migrants and refugees.
Development and social support programs for vulnerable communities also received a boost more generally. Saudi Arabia announced a $500 million commitment for humanitarian relief efforts in response to the COVID-19 pandemic in Yemen, while Norway announced $453 million in aid and development support to low- and middle-income countries, especially those in sub-Saharan Africa. Bangladesh, Jordan, Tunisia, and Uganda also saw new announcements, and fresh tender opportunities include the provision of support services for people living with disabilities in Turkey while the pandemic continues to unfold.
Logistics and provision of equipment continue to be the focus of new tender opportunities, including freight logistics services for coronavirus responses by the United Nations, but there is also an increasing number of consulting opportunities to analyze the impact of COVID-19 in other spaces — including climate change plans in Costa Rica, export promotion in Moldova, and the development of smart city archetypes. Newly announced grants maintain a spotlight on economic research relating to the coronavirus, including data science for inclusive economic growth and the promotion and adoption of digital remittance channels.
Among the announcements from bilateral donors were 5 billion yen ($46 million) for small businesses in Myanmar from the Japan International Cooperation Agency, $21.5 million for the protection and promotion of Ugandan biodiversity by the United States Agency for International Development, and £17 million ($22 million) from the Department for International Development to provide COVID-19 humanitarian protection and assistance for victims of war and violence.
The announcement from the European Union of €750 billion ($838 billion) in support of the economic recovery from COVID-19 for member countries is a new boost to funding after seeing announcements becoming smaller and is by far the largest new announcement since May 24.
The second largest was $10 billion in funding from the African Development Bank to support the promotion of structural transformation and green growth through 2024 — with the program “underpinned by a brief outlining the impact of the COVID-19 pandemic on Nigeria,” according to the announcement. This was followed by $4 billion from the U.S. International Development Finance Corporation to ensure the continuity of existing projects that have been impacted by COVID-19.
By region, new funding has been centered on East Asia and the Pacific with 22 announcements, followed by 16 announcements for West Africa and another 16 for Latin America and the Caribbean. But the EU announcement sees the Eastern and Western European regions — and economic support — as the financial focus of new announcements since May 24.
Economic and business support is also the priority for new grants announced since May 24, with the Department for International Development offering up to £4 million ($5 million) for medium-sized not-for-profits and up to £250,000 for small nonprofits to support their economic viability, along with the continued delivery of development programs. Digital remittance solutions are the focus of a grant from the United Nations to also help with economic growth and financial stability.
Among contracts awarded since May 24, supporting the response has been the intent of 65 awards, worth $54 million. Support for health systems has seen $20 million in investment. And the purchasing of equipment and supplies continues to be a focus for contracts, supporting $14 million investment — including $12.5 million awarded to PATH by the Bill & Melinda Gates Foundation to support improved access to respiratory care equipment in low- and middle-income countries.
For contracts, philanthropic donors were the leading source of opportunities, while multilateral donors dominated funding activities, programs, and tenders. For grants, bilateral donors were the leading source of new announcements over the past week.
The largest new funding announcement of the past week has been the $10 billion to address and mitigate the impacts of COVID-19 in developing countries. No details are yet available of any specific target nations, but the initiative will be funded by the Arab Coordination Group, which consists of 10 development financial institutions including the Abu Dhabi Fund for Development, the Arab Monetary Fund, the Islamic Development Bank Group, and the OPEC Fund for International Development.
Low- and middle-income countries are also the focus of another announcement in this period — €3 billion ($3.3 billion) from the Council of Europe to provide financial assistance to Albania, Bosnia-Herzegovina, Georgia, Jordan, Kosovo, Moldova, Montenegro, North Macedonia, Tunisia, and Ukraine in response to COVID-19.
Humanitarian needs are a key target of a $2 billion initiative from the government of China that was announced at the World Health Assembly. According to the announcement, the funds will be available for a global humanitarian response capital and hub based in China. Hospital partnerships and debt suspension for Africa will also be a focus.
Among funding activities, these projects reflect an increased financial contribution supporting vulnerable communities since May 17.
Economic recovery still remains an important focus of funding activities, with $11 billion in announcements. Health systems are also supported by $5.4 billion in new funding announcements.
For businesses, new tender opportunities continue to grow for transitioning operations in the COVID-19 environment or delivering programs. Online engagement, policy brief development, medical equipment procurement, social protection awareness, laboratory installation, and even conference support are among the latest opportunities.
But funding announcements are showing other ways that government, development, and global operations are changing. Increasingly, COVID-19 is forcing programs to consider how to support economic recovery and resilience as part of their work — including climate change programs, natural disaster recovery, and democracy and human rights.
Government-funded economic stimulus drove the largest new funding activities since May 10. In Vietnam, a $25 billion “cushion” was announced for the national economy with the aim of providing a jump-start in the post-coronavirus period. In India, $4 billion will be directed toward agricultural support and concessional credit for farmers as part of broader relief packages.
But investment from bilateral donors — aimed at health systems, the economy, and other development challenges — is also supporting new coronavirus responses in low- and middle-income countries. Angola, Bangladesh, Ethiopia, Kazakhstan, Myanmar, and South Africa are among the countries targeted by new funding activities, programs, grants, and tenders.
An announcement of $1 billion from the Japan International Cooperation Agency for the pandemic response in Bangladesh is the largest new announcement from a bilateral donor. The U.S. Agency for International Development is also increasing investment through a number of new activities, including $20 million to purchase ventilators for South Africa and a funding round for up to $300 million that will support interventions for adapting health systems to changing needs for COVID-19.
Agence Française de Développement has also announced new funding activities. It announced €220 million ($240 million) in partnership with the European Union to increase Vietnam’s resilience around climate change and COVID-19. And in Ethiopia, AFD is directing €40 million for the coronavirus response.
The U.K.’s Department for International Development is boosting economic development through a new £30 million ($37 million) initiative to scale up its infrastructure and cities programming. As part of its pivot to COVID-19, this funding aims to support the building of resilient cities and infrastructure for medium- and long-term economic recovery in LMICs.
Elsewhere, the Swedish International Development Cooperation Agency has announced $6.5 million for seniors affected by COVID-19, the German Federal Ministry for Economic Cooperation and Development is supporting a €7 million investment to secure water supply and hygiene articles in Jordan, and the Finland’s Ministry for Foreign Affairs is providing €1 million for Red Cross operations in lower-income countries.
Country responses remain the focal point of bilateral support, with 127 announcements since Jan. 1. Health systems follow with 82 announcements, then economies with 29 announcements and vulnerable groups with 27 announcements.
Geographically, bilateral donors have focused this year’s investment announcements on global programming, which has seen 31 such announcements. This is followed by Bangladesh with 13. With 10 announcements, East Africa has also been a recipient of regionally diverse initiatives, while western and southern Africa saw 9 announcements.
In comparison, the geographic focus of private sector partners this year has been on global initiatives with 71 announcements. This is followed by the U.S. with 30 announcements, China with 25 announcements, and India with 19 announcements.
Food security is emerging as an increasing concern among governments and donors supporting the global response, with $2.25 billion worth of funding announced since May 2. New funding of $1.7 billion toward the distribution of food items in Ghana is the single largest announcement focused on food security in the analysis of COVID-19 funding data since January. This demonstrates the increasing stress that COVID-19 is placing on supply chains as donors try to stay ahead of emerging challenges.
That food security package is also one of the largest announcements in funding activities overall. But the bulk of funds in this space have focused on governments’ commitment to the development of vaccines and treatments.
A total of 11 new announcements have committed $11.1 billion to these efforts, with an $8 billion commitment by various governments accounting for a large portion.
Among the new programs, 13 with a strong focus on Asia have been announced since May 2. The Asian Infrastructure Investment Bank and Asian Development Bank have partnered on two program announcements, supporting $4.77 billion worth of investment in Indonesia and the Philippines.
Open opportunities continue the focus on health. Since May 2, five new open opportunities have become available for financial support through funders including the Swedish International Development Cooperation Agency, Wellcome Trust, and the Bill & Melinda Gates Foundation —- supporting the strengthening of health care systems, physical and mental health of front-line workers, innovative solutions to the crisis, and more.
A total of 40 new tender opportunities are also available supporting the programs of NGO, multilateral, and government donors — with the largest being a forecast for the procurement of goods, works, and services to assist the World Bank in its ongoing COVID-19 response. The opportunity will provide the bank flexibility with changing needs, as the coronavirus continues to impact the globe.
Program announcements have totaled 97 in this period, with a known value of $25 billion. Bilateral, multilateral and government donors are the drivers of these opportunities, with the European Investment Bank supporting $8.7 billion in programs, while the Asian Development Bank supports $3.2 billion and the Asian Infrastructure Investment Bank supports $2.5 billion.
A total of 201 grants — nonprofit funding opportunities providing financial assistance to project objectives related to the coronavirus — were announced between Jan. 1 and May 2, with financial assistance of $590 million. Strengthening health laboratories, virus research, and civil society protection are among the diverse focuses of grants announced.
A total of 179 contracts have been awarded, providing $192 million in commitments delivered through partnerships. Helmsley Charitable Trust has so far awarded $78.4 million in contracts for work in Israel and the U.S. and in support of worldwide programs targeting health systems.
Tenders continue to grow, and organizations seek services and equipment to deliver on their financial commitments. A total of 165 tenders — with more than half for the purchase of equipment and medical supplies — are supporting $1.9 billion in expenditure.
Open opportunities — grants with open-ended or cyclical deadlines — are supporting $145 million in investment through 44 initiatives. Among the new opportunities are grants of up to 50,000 rand ($2,700) mitigating the impact of COVID-19 on women’s rights in South Africa, supported by Global Affairs Canada and the U.K. Department for International Development.
The base of philanthropic donors continues to grow. Among the new donors is the Lebanon-based Alwaleed Philanthropies, which has announced $30 million to respond to a range of health and economic impacts of COVID-19 globally. And the Chan Zuckerberg Initiative has announced a commitment of $13.6 million to understand the prevalence of COVID-19 in the U.S.
Among the 279 new entries added to Devex’s funding database since April 27 are a $15 billion economic relief package for Brazil, Russia, India, China, and South Africa and $3.4 billion in support for emergency COVID-19 efforts in Nigeria.
While investment has slowed, economic initiatives continue to drive finances. Through 66 initiatives announced since April 19, $204 billion in investment is expected to be made.
€110 billion ($120 billion) for economic support and emergency aid in France is the largest new economic investment, with €25 billion also directed by the European Investment Bank at Europe to mitigate the economic impact of COVID-19. Outside Europe, funders including the World Bank and African Development Bank contributed $26 billion to support the social and economic response in South Africa.
But the single largest new investment is in supporting the health sector: a $160 billion initiative announced by the World Bank for stronger global health security. This accounts for the bulk of the $165 billion announced for the health sector since April 19, with the Asian Development Bank announcing a combined $3 billion in loans for health-system strengthening in the Philippines and Indonesia.
In other priority funding sectors, women and girls are continuing to increase in focus. An additional 69 programs valued at $5.3 billion tackle gender-related issues — either directly, as with a $35 million gender investment by the U.S. Agency for International Development in Colombia, or indirectly via gender requirements on funding, as with a $1.5 billion investment in the Philippines that aims to strengthen coronavirus response and support.
Globally, governments continue to be the biggest funders of initiatives, both in number and value. They have supported an additional 132 initiatives since April 19, valued at $357 billion. Multilateral institutions are key financial contributors to 132 initiatives as well, with their projects valued at $241 billion. The private sector is contributing to 47 initiatives valued at $2.9 billion. NGOs and civil society are supporting 52 new initiatives valued at $124 million, with education programs accounting for $37 million of this total.
Tender requests continue to show the diverse needs of organizations in responding to COVID-19. New procurements include megaphones for the United Nations Children's Fund in Myanmar, plastic buckets for the United Nations Development Programme in Zimbabwe to store food and water, the construction of isolation units, support for awareness campaigns, and printing services for informational flyers.
Economic initiatives continue to drive the big increases in funding. Since April 12, the largest new funding announcement came from the United States Federal Reserve — a $2.3 trillion loans program to combat the economic impacts of COVID-19 within the country. A €500 billion ($540 billion) support package for Europe from the European Union and European Investment Bank, which includes funding for potential bailouts, was the second-largest new funding announcement. And a $100 billion initiative from the International Monetary Fund aims to support low-income countries through a global recession.
Since April 12, bilateral donors have announced $2 billion worth of initiatives. Agence Française de Développement announced its third — and largest — initiative in support of Africa to reinforce health systems on the continent. €150 million will be made available in the form of donations and €1 billion in the form of loans.
The U.K. Department for International Development has also increased its investment, announcing a package of £200 million to reduce mass infections in lower-income countries. The package includes funding for U.N. agencies, the Red Cross, and other NGOs to deliver services.
And the U.S. Agency for International Development has announced a $225 million increase in its support to lower-income countries for health and economic initiatives, along with funding increases announced for South Africa and the Philippines.
Over this same period, $410 million worth of projects has been announced by philanthropic donors, $399 million worth by the private sector, and $29 million worth by NGOs and civil society.
Among the trends identified in the past week has been an increasing focus on initiatives related to data on the one hand and gender on the other.
The National Science Foundation in the U.S. has announced grants to support research utilizing data or software to address COVID-19, while the Mastercard Foundation and The Rockefeller Foundation have announced a $10 million challenge in response to COVID-19 as part of its commitment to “building the field of data science for social impact.”
The Bill & Melinda Gates Foundation also unveiled a $100,000 award for the University of Washington Foundation for COVID-19 modeling, and the Tableau Foundation has announced grants to support local organizations’ COVID-19 response.
A total of 49 initiatives now have a gender focus or requirement, with multilateral donors leading this push. Among the new programs announced were $1 million targeting gender-based violence in East Timor, a grant program providing up to $200,000 through the Women’s Peace and Humanitarian Fund for a gender focus on the COVID-19 response, $100,000 supporting pregnant women in Malawi, and grants for feminist organizations to support Ukraine’s response.
Continuing the trend identified on April 8, the majority of new initiatives announced support the COVID-19 response within countries (152 initiatives) followed by health system support (70 initiatives). But the bulk of funds continues to address the economic impacts of COVID-19, with $1.3 trillion in additional support announced — including $1 trillion in assistance to Japanese families and small business owners and $57.9 billion in economic support for Thailand.
But the financial boost seen between March 24 and April 5 has declined in favor of projects targeting vulnerable groups and other needs emerging during this crisis.
Communication and education have five new projects, including initiatives to stop the spread of misinformation and educate communities about the virus and how to prevent its spread. Education is an emerging priority sector for support including $250 million from the Global Partnership for Education to ensure children are not left behind.
Food relief and food security are also priorities in supporting vulnerable communities with $2.9 million helping to fund this space in South Africa. Vulnerable communities are further being supported in a range of new programs including by social protection strengthening in Madagascar by the International Monetary Fund, as well as in funding requests to target specific groups — recently seen in the announcement of a $2.2 billion project from the Asian Development Bank targeting economic impacts in India, which aims to target groups including women.
Among the emerging priorities this week are procurements to purchase equipment and resources that will help organizations continue providing essential services.
There has also been an increase in calls for equipment, as well as procurements to support organizations with their response and ability to continue operating.
The United Nations Development Programme has issued a range of tenders supporting staff and projects globally. In Mauritania, UNDP is procuring IT and videoconferencing equipment to support the continuation of its work. In Lebanon and Zimbabwe, it is procuring personal protective equipment and cleaning products. And in India, it has issued a tender to procure a ventilator.
In the Philippines, UNICEF issued a tender to procure 500 heavy-duty cleaning kits, and it has additionally issued a tender for services to support the online delivery of COVID-19 mental health and psychosocial services to frontline workers and caregivers in the Eastern Caribbean area. And to support the work of the US Embassy in Pakistan a new tender to procure cleaning services was issued with specific COVID-19 requirements.
The majority of these new initiatives support response to COVID-19 within countries (211 initiatives) followed by health system support (63 initiatives), the money is largely directed to initiatives supporting economic stability. Since March 24, announcements worth $6.1 trillion were announced supporting the economy, including $5 trillion committed by G-20 leaders to boosting economies and $1 trillion from the International Monetary Fund to address the economic and humanitarian impact.
Health systems received $5.1 billion in additional support, including $1 billion in India, and $1.6 billion for vaccine and treatment funding. One billion dollars of this has been announced by the U.S. government to support the production of possible coronavirus vaccines with the assistance of the Biomedical Advanced Research and Development Authority.
Investments from governments have rapidly grown, increasing from a known value of $1.9 billion on March 24 to $8 trillion by April 5; 135 initiatives support these announcements.
Among new initiatives announced by bilateral donors are €1.5 million ($1.6 billion) initiative to improve health monitoring and management of COVID-19 cases by Agence Française de Développement in Africa, and $260 million pledged to Bangladesh, with the U.K. Department for International Development and Swedish International Development Cooperation Agency among the donors.
Among the 41 new projects announced by the U.S. Agency for International Development are initiatives supporting health, water, and sanitation in Africa; humanitarian and health impacts in Afghanistan; and virus surveillance and prevention in Venezuela.
NGOs and CSOs have announced support for an additional 29 initiatives since March 24, worth $260 million. Response and support for victims of COVID-19 are the focus of this sector. New announcements include $30 million worth of support announced by UNITAID and $13 million focused on educating children.
Insight into the funders
Governments are supporting initiatives worth at least $2.9 trillion, including a $1 trillion package focusing on economic impacts in the United States. Government funding is largely concentrated on responding to COVID-19 or its economic impacts. Country-specific initiatives account for 83% of this, while programs with a regional or global focus make up the rest.
Multilateral institutions are supporting 65 initiatives with a known value of $1.1 trillion. The European Union is supporting $1 trillion worth of investment across 11 initiatives, including $41 billion for coronavirus-related health care expenditures across Eastern and Western Europe.
Multilateral funding has so far been evenly split between country-specific and multiregion initiatives.
Bilateral funders have so far announced investments or partnerships in initiatives worth $594 billion, with the bulk from KfW to protect the German economy from the effects of the new coronavirus. In terms of geographic footprint, Asia and Africa are a key focus.
The U.S. Agency for International Development is supporting 13 initiatives with a known value of $126 million. Of these,11 are country-specific — including $2 million worth of support for Cambodia and $1.8 million worth of support for Nepal and Ethiopia.
Explore the funding response via geographical region, funding, focus areas, and more.
NGOs and civil society organizations are supporting at least $165 million worth of initiatives with a focus on Africa — including research-strengthening initiatives. But responding to COVID-19 is the main focus of this sector.
Philanthropic donors have announced 36 initiatives with a known value of $1.3 billion. Global response programs are the focus, followed by support to Africa. For vaccines and treatments, this sector is supporting $343 million worth of programs, including $125 million to support the development of treatments funded by the Bill & Melinda Gates Foundation, Wellcome Trust, and Mastercard Impact Fund.
A total of 47 initiatives are supported by the private sector with a known value of $2.3 billion — with 37 initiatives focusing on specific countries, including a $1 million investment from Rio Tinto to address the outbreak in China.
Areas of investment
So far, the focus of announced investments since January has been on the response, with supporting health systems being the second priority. Australia is investing $1.4 billion in its health sector, while the EU is preparing for $41 billion worth of coronavirus-related health care expenditures.
As the economic impacts caused by shutdowns continue to take their toll, investment in the economy is also increasingly important. Thailand is investing $1 billion to prevent a recession, Malaysia is investing $4.7 billion, and even fisheries in the Maldives are receiving $6.5 million worth of support related to the economic downturn.
Research is being supported through 19 initiatives and focuses on prevention and control, diagnosis and treatment, and clinical response. Vaccines and other treatments are being supported across 13 initiatives that have the EU, DFID, and the European Investment Bank among the funders.
At least $195 million is being invested into equipment supplies across 12 initiatives, including a $45 million investment from the private sector.
With a large investment from governments in support of their national response, two-thirds of the initiatives are country-specific. Since the virus was first identified in China, 44 initiatives are specific to this country. The U.S. has the second-most initiatives with 15, followed by the Philippines with 13, and Pakistan with 10.
As a region, East Asia and the Pacific has seen 84 initiatives with a known value of $418 billion. South Asia has 28 initiatives worth at least $8.9 billion, and Western Europe has 24. The number of worldwide initiatives stands at 61, with at least $488 billion invested into the response.
But as the impact of COVID-19 grows, so will the investment required to respond to and understand it. Shifts beyond Asia will be likely, as will be increasing investment in economic and social responses.
Investment is just getting started — and Devex will continue to provide insights into known funding as it becomes available.
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