Standard Chartered provides $200 million for Africa’s vaccine procurement

JOHANNESBURG (Reuters) -Normal Chartered Financial institution mentioned on Thursday it’s offering $200 million in not-for-profit funding to the African Export-Import Financial institution’s (Afreximbank) COVID-19 vaccine procurement framework for Africa.

The power is a part of Afreximbank’s Advance Procurement Dedication framework, below which it has offered a $2 billion assure to producers to safe entry to vaccine doses for African nations, Normal Chartered mentioned in assertion.

“The pace of vaccine rollout just isn’t solely a healthcare situation however is more and more a differentiator of near-term, put up pandemic financial restoration for African nations,” mentioned Simon Cooper, Normal Chartered’s Chief Govt for Company, Industrial, and Institutional Banking.

Africa struggled early on to safe vaccines as rich international locations cornered provides for their very own residents.

The continent had aimed to safe 800 million doses by December however has thus far obtained solely a fraction of that.

John Nkengasong, head of the Africa Centres for Illness Management and Prevention, mentioned earlier this month that simply 1% of Africans had been totally inoculated.

(Reporting by Joe BavierEditing by Tanisha Heiberg, Kirsten Donovan)

Standard Chartered provides $200 million for Africa’s vaccine procurement


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