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Despite Q3 bounce, South African economy in contractionRecovery is expected to continue albeit at a much slower pace, experts say. |
Members said awareness about the alliance should be boosted in a period of increased economic and trade volatility.
A collapse in household and business income led to a surge in job losses and business closures.
Household consumption expenditure accounted for 61.7 per cent of the economy in the second quarter.
The NDB aims to provide up to US$10 billion in crisis-related assistance.
Prospects for 2020 were looking good prior to the global panic resulting from the coronavirus outbreak.
Commitments made at the 2018 and 2019 Investment Summits haven't been factored into the GDP growth forecasts.
The NDB will also make an investment of up to $100 million in the Patria Infrastructure Fund IV, L.P. in Brazil.
The NDB plans to almost double its loans to $16 billion this year and increase its impact.
To this end, notable outcomes such as action plans tackling the crisis of gender-based violence were created.
