Saturday, October 1 2022

The European Investment Bank (EIB) pledges €500 million in a partnership launched by the World Health Organization, the European Investment Bank (EIB) with the support of the European Union (EU) to build stronger and more resilient health systems in Africa, Chimpanzee Africa Business has learned.

The organizations said the fundraising aims to “help countries close the health financing gap and build resilient health systems based on a strong foundation of primary health care (PHC), for help achieve the health-related Sustainable Development Goals (SDGs). ).”

“This means restoring, expanding and maintaining access to essential health services and increasing financial risk protection; access to vaccines, drugs, diagnostics, devices and other health products; scale innovative models of primary health care service delivery and invest in a health workforce to deliver effective quality care,” reads in part the joint statement released this Thursday afternoon.

Dr Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, said the COVID-19 pandemic is a powerful demonstration that when health is at risk, everything is at risk.

“Investing in health across Africa is therefore essential not only to promote and protect health, but also as a basis for lifting people out of poverty and driving inclusive economic growth,” Dr Tedros said.

“WHO is pleased to join with its African partners, the European Investment Bank and the EU to combine this important investment with WHO’s experience and know-how to build resilient health systems. and a healthier, safer and fairer future for Africa,” he stressed. .

The officials said that the shared objectives of the partnership will be achieved by applying a country-led and country-driven approach, identifying gaps in national health systems, designing response strategies and their corresponding investment plans, investing in health systems projects and programs, raising supplier capital, supporting implementation and monitoring impact.

Investments

To initiate this partnership, the European Investment Bank will make available at least 500 million euros to support the strengthening of health systems and more particularly primary health care in the countries of sub-Saharan Africa.

This aims to mobilize at least €1 billion of investments, structured in cooperation with the EC and the WHO, to support this initiative.

Africa suffers from inadequate basic service infrastructure, which makes the region vulnerable to disease outbreaks.

Investments in good quality basic services infrastructure should improve the continent’s resilience to future epidemics, but also boost socio-economic growth in the short term.

Experts say Chimpanzee Africa Business that the promotion of life-cycle cost approaches to financing infrastructure projects is important.

To date, more than half of the world’s population is fully vaccinated against COVID-19.

In Africa, this figure is only 11% on average.

Werner Hoyer, President of the European Investment Bank, says the partnership between the EIB and the WHO is at the heart of their response to the pandemic outside the EU, as part of Team Europe.

“Since the start of the pandemic, the EIB has stepped up its support for investments in health, vaccine production and economic resilience in Africa and around the world,” said Werner.

“Today, we are pleased to confirm that the EIB will make €500 million available with the aim of mobilizing €1 billion in new investments to strengthen public health in Africa,” he added.

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