Among the many provisions in the $2.2 trillion coronavirus relief package that appear to have little to do with the immediate crisis at home is a nearly $11 billion pot of money for three international development groups.
The Coronavirus Aid, Relief and Economic Security Act (CARES Act) – which the House of Representatives is expected to vote on Friday – includes the funding authorizations for the African Development Fund (ADF), the African Development Bank (AfDB) and the International Development Association (IDA).
The ADF and the AfDB are two related organizations that help fund development and poverty eradication efforts in Africa, whereas the IDA is a subsidiary of the World Bank that gives to poor countries in general. Combined, they will receive more than $10.8 billion under the CARES Act.
This amount includes $7,286,587,008 for the AfDB, $513,900,000 for the ADF and $3,004,200,000 for the IDA.
As the costliest stimulus measure in U.S. history, the bill has generated a mixed and often-conflicted reaction even from those advocating for it. The package contains sorely needed relief for struggling workers facing layoffs as businesses are forced to temporarily shutter on an unprecedented scale in a bid to curb the spread of coronavirus. But some have questioned the massive pot of money set aside for loans to big industries, while others have challenged the array of seemingly unrelated or tangential funding pipelines that made their way in.
Controversial appropriations tucked into the coronavirus stimulus package include $25 million for the John F. Kennedy Center for the Performing Arts, with a stipulation that the funds are to help deal with the fallout from the coronavirus pandemic. There is no such language connected to the AfDB, ADF or IDA provisions. – READ MORE
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