President of the World Bank, David Malpass, has said delays in the vaccination of Africans against the Covid-19 pandemic is costing the continent some $13.8 billion losses in Gross Domestic Product (GDP).
Making the assertion at the virtual meeting on Africa’s COVID-19 Vaccine Financing and Deployment Strategy, Mr Malpass noted it is imperative for African governments to prioritize the quick acquisition and rollout of the Covid-19 vaccines for its citizens.
“It’s vital to prioritize the rollout of COVID-19 vaccines. We estimate that every month of delay costs the African continent $13.8 billion in lost GDP. That’s in addition to the loss of lives and human capital,” he stated.
Having already committed more than $25 billion to support the health and economic recovery of African countries since the outbreak of the pandemic, Mr Malpass asserted that the World Bank by June this year will be making an additional $15 billion commitment in the fight against covid on the continent.
Adding, the World Bank is also ready to assist the continent in many aspects of its vaccination of the African populace.
“The World Bank can assist with many aspects including facilitating the procurement of vaccines. Inoculating populations will require delivering the vaccines safely and effectively. Cold chain equipment, energy infrastructure, logistic, transport, community engagement and trained human resources are all key areas needed for effective deployment of vaccines,” he stated.
Mr Malpass further noted that, the World Bank’s Board of Directors, had authorized up to $12 billion support for countries in the purchasing of the Covid-19 vaccines and urged all African Heads of State to take advantage of the $12 billion facility and send a request to the World Bank for support for vaccine procurement and deployment.
“I urge you to focus and prioritize efforts toward these funding programs, and not slow the momentum through complex contracts and intermediaries. Our financing is available today and vaccine manufacturers are eager to work with countries on delivery dates and direct contracts.”
“Our Country Directors and Country Managers have been in contact with all of you. We would encourage those countries that have not yet requested World Bank support to send a letter to their World Bank Country Director asking for support for vaccine procurement and deployment from the $12 billion facility. We look forward to receiving these letters so that our teams can expeditiously support you.”
“To conclude, we urge leaders of African countries to move quickly to secure vaccinations for their populations, and to avail themselves of the financing available from us and other partners to help with this. The World Bank Group stands ready to work swiftly with our clients and partners to respond to this pandemic. Thank you,” concluded Mr Malpass.
