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Afreximbank approves $2 bln for African nations to secure COVID-19 vaccines

Published 23/02/2021, 15:32
© Reuters
AZN
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ABUJA, Feb 23 (Reuters) - The African Export-Import Bank
(Afrexim) has approved $2 billion to support the acquisition of
COVID-19 vaccines for African countries, its president said on
Tuesday.
The African Union initially secured 270 million COVID-19
vaccine doses from manufacturers for member states. In January,
it was announced that the bloc would receive another 400 million
doses of the AstraZeneca (NASDAQ:AZN) vaccine.
President Benedict Oramah told CNBC Africa Television the
Afrexim board has approved the funds and that it was seeking to
raise more funds for vaccine acquisition.
He said that the 270 million doses will only cover around
15% of Africa's population, far short of the 40% to 60% needed
for immunity.
Africa's reported COVID-19 death toll surpassed 100,000 last
week, a fraction of that reported on other continents but rising
fast as a second wave of infections overwhelms
hospitals. Faisal Shuaib, who heads Nigeria's National Primary Health
Care Development Agency, has said the country was "exploring
multiple payment options" for the doses including through an
Afrexim financing plan to make repayments in installments over
five to seven years.

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