African Export-Import Bank (Afreximbank) has provided $100 million to enable its member states to procure medical resources through the Africa Medical Supplies Platform (AMSP) to curb the spread of the Covid-19 pandemic.
AMSP is a non-profit initiative launched by the African Union as an immediate, integrated and practical response to the Covid-19 pandemic.
The platform was developed under the leadership of African Union Special Envoy, Strive Masiyiwa, and powered by Janngo on behalf of the African Union’s Africa Centres for Disease Control and Prevention (Africa CDC), in partnership with Afreximbank and United Nations Economic Commission for Africa (ECA).
‘We are mindful of the challenges many African economies are facing as they work hard every day to contain the pandemic’, President of Afreximbank, Professor Benedict Oramah, said.
‘With this $100 million overdraft facility, we are ensuring African states are able to rapidly access diagnostic kits and medical supplies at competitive prices from African suppliers and global markets’.
While Afreximbank facilitates payments and also arranges letters of credit and payment guarantees, AMSP aggregates medical supplies and serves as a unique interface for African governments and NGOs to easily coordinate sourcing.
Source: Sun News Online
Photo source: International Labour Organisation