AFDB to finance vaccine manufacturing in Africa 

by | Aug 30, 2021 | COVID 19 | 0 comments


Pretty Manyewe


The African Development Bank (AFDB) has committed to investing US$5 billion to support vaccine manufacturing in Africa.


This was agreed at a G20 Compact with Africa meeting which assessed Africa’s progress in fighting the Covid-19 pandemic.


AFDB is part of the 12 Compact members who were in attendance at the meeting.


The meeting involved strategy discussions around attracting higher inflows of foreign direct investments to Africa and the urgent imperative to develop vaccine manufacture capability in the African continent.


“The AFDB has committed to investing $5 billion to support vaccine manufacturing across Africa so as to enable vaccine self sufficiency in this continent. This will also be made a longer term solution,” said AFDB President Akinwuni Adesina.


Ensuring the Africa’s recovery from the impacts of COVID-19 is one of Compact’s short term objectives.


World Bank President, David Malpass also highlighted that there were vaccine financing programs being set up in 54 countries, with more than half of these in Africa.


  1. It is expected that Zimbababwe, with the best vaccine rollout in Sub-Sahara Africa will be among recipients of the finances.