Afrieximbank to Facilitate $ 2 Billion Payment Guarantee for Vaccines in Africa

Africa Export, Import Afreximbank is making a financial guarantee of $ 2 billion available to all African countries to help purchase vaccines against the coronavirus.

This fund is provided to the African Union to be made accessible to all 55 AU member countries.

This follows the announcement by the President of the African Union, President Cyril Ramaphosa of South Africa, that the Union has secured an interim supply of 270 million doses of COVID-19 vaccine for Africa. and that a pre-order program was therefore opened on the platform of medical supplies for Africa. .

The platform should allow all Member States to apply online for the quantity of doses required in their respective countries.

Africa Export Import bank, Afreximbank, will facilitate payments by providing advance purchase commitment guarantees of up to $ 2 billion to manufacturers on behalf of all member states.

As the task force team secured 270 million interim doses of COVID-19 vaccines from Pfizer, Johnson & Johnson and AstraZeneca, the medical platform has opened up pre-orders, providing equitable access to COVID-19 vaccines for the ‘Africa.

“Afreximbank is proud to extend its support to African economies in their attempt to contain the pandemic. Our Vaccine Finance Facility builds on the success of our Pandemic Trade Impact Mitigation Mechanism to open up access to COVID-19 vaccines to African states, ”said Prof. Benedict Oramah, Chairman and Chairman of the Board of Directors of Afreximbank.

To support immunization operations, the African Medical Supplies Platform has also launched a new category of vaccine accessories that will help Member States source products such as ultra-low temperature freezers, personal protective equipment, among others. other.

According to the African Center for Disease Control and Prevention, the biggest challenges for access to the COVID-19 vaccine in Africa have been vaccine financing and the logistics of large-scale vaccination.

However, as of today, African Union member states will be able to start pre-ordering their vaccine allocation online through the medical supplies platform.