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· The Japan International Cooperation Agency (JICA) has extended an Official Development Assistance loan of US$289 million to support Mauritius’ response to the COVID-19 pandemic and to rebuild its economy
· It is a parallel co-financing agreement between JICA and the African Development Bank under the Enhanced Private Sector Assistance for Africa (EPSA) joint initiative to spur private sector-led sustainable and inclusive growth in Africa
· Mauritius’ response to contain the pandemic has been successful
The Japan International Cooperation Agency (JICA) has extended an Official Development Assistance loan of US$289 million to support Mauritius’ response to the COVID-19 pandemic and to rebuild its economy. The contract for the loan was signed on 24 February. It is a parallel co-financing agreement between JICA and the African Development Bank under the Enhanced Private Sector Assistance for Africa (EPSA) joint initiative to spur private sector-led sustainable and inclusive growth in Africa. The co-financing arrangement will help the Mauritius government contain the pandemic, secure livelihoods, and boost the resilience of the economy.
A total commitment of US$3.5 billion is targeted under the current EPSA4 over the period 2020 to 2022. Each of the partners will be co-financing up to US$1.75 billion. JICA, commended the efforts of the government of Mauritius to overcome the challenges posed by the COVID-19 pandemic and hoped that the new co-financing program with the African Development Bank would provide new leverage to strengthen such efforts.
In May 2020, the AfDB approved the Mauritius COVID-19 Crisis Response Budget Support Program of €188 million as part of its COVID-19 Response Facility to assist its regional member states in mitigating the multifaceted impacts of the pandemic. Mauritius’ response to contain the pandemic has been successful. As at 24 February 2021 Mauritius had recorded 610 COVID-19 infections, with 10 deaths and 571 recoveries. To date, this remains low in comparison to other African countries. However, the country’s economy has been severely hit by the global consequences of the pandemic, impacting its traditional economic pillars such as tourism, foreign direct investment and exports.
