Fortune News | May 09,2020
January 23 , 2021
The African Union (AU) and the African Export-Import Bank (Afreximbank) have announced that African nations will pay between three and 10 dollars a dose to access 270 million COVID-19 shots secured earlier this month by the former.
The countries can pay for the vaccines through loans from Afreximbank, which has stated that it is ready to provide procurement guarantees of up to two billion dollars to vaccine manufacturers. The borrowers will then repay the loans through quarterly installments over the coming seven years.
Pfizer is providing 50 million doses at the price of three dollars each. Johnson & Johnson, whose vaccine is still in a trial phase, is set to avail 120 million doses at 6.75 dollars each. The Serum Institute of India, who will be supplying vaccines sourced from AstraZeneca, will provide 100 million doses at a cost of 10 dollars a dose.
The AU aims to have 60pc of the African population vaccinated within three years. There have been over 3.3 million COVID-19 cases and 80,000 deaths recorded on the continent so far with a new, more virulent strain of the virus recently identified in South Africa.
PUBLISHED ON
Jan 23,2021 [ VOL
21 , NO
1082]
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