As part of the acquisition of vaccine doses in Africa, Standard Chartered will disburse USD 200 million in agreement with the African Import-Export Bank (Afreximbank). This funding announced this Thursday, July 15 is part of the bank’s USD 1 billion funding commitment, launched in March 2020 and aimed at fighting the pandemic by providing personal protective equipment, ventilators and now vaccines.
This action is part of the Advance Purchase Commitment (APC) framework structured by Afreximbank in collaboration with the African vaccines acquisition task team (Avatt), “under which Afreximbank has provided a guarantee of $ 2 billion to manufacturers of vaccines to ensure access to Covid-19 vaccines for African countries, ”said a statement from the bank.
In addition to these financial support from certain structures, Afreximbank also launched the facility for mitigating the impact of the pandemic on trade (Patimfa), to mitigate and manage the financial, economic and health impacts of the pandemic for an amount of more than of 6.5 billion USD. Not to mention the establishment of a collaborative mechanism for the response to the Covid-19 pandemic (Coprefa) in collaboration with partners to support African economies during the pandemic, worth USD 1.5 billion.