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Delegates unveil $1.2bn in funding vaccines production in Africa

Delegates unveils $1.2bn in funding vaccines production in Africa

Delegates unveil $1.2bn in funding vaccines production in Africa

Global leaders, health organizations, and pharmaceutical companies have pledged $1.2 billion to support vaccine production in Africa at the Global Forum for Vaccine Sovereignty and held in Paris. This initiative comes in response to the evident disparities in vaccine access globally, particularly in Africa where various health crises continue to pose challenges.

During the forum, French President Emmanuel Macron emphasized the importance of establishing the African Vaccine Manufacturing Accelerator as a crucial step towards creating a self-sustaining African vaccine market. Currently, Africa only produces two percent of the vaccines it requires, with the goal being to increase local production to sixty percent by 2040.

The recent resurgence of diseases like cholera in Africa has underscored the necessity for increasing local vaccine production capacity. The impact of the Covid-19 pandemic on healthcare systems and vaccination programs has been significant, with millions of children missing out on essential vaccines, according to a UNICEF report from 2021.

Additionally, the Gavi vaccine alliance, a key organizer of the forum, announced plans to raise $9 billion to support vaccine programs for various diseases in low-income countries. As part of this initiative, up to $1 billion will be allocated over the next decade to boost manufacturing capabilities in Africa, enhance global vaccine markets, and improve readiness to respond to pandemics and disease outbreaks.

The accelerator project aims to provide financial support to African manufacturers once they meet supply and regulatory requirements, with the objective of lowering vaccine prices through market competition and encouraging investment in production. Issues like technology transfer, the establishment of an African medicines agency, and addressing regulatory challenges across Africa’s legal systems will also be explored as part of this initiative.

Delegates unveils $1.2bn in funding vaccines production in Africa

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