Global Partners Invest $45M to boost African vaccine production
Global Partners Invest $45M to boost African vaccine production . AFRICA – In significant efforts to strengthen public health and improve vaccine access in Africa, the US International Development Finance Corporation, the African Development Bank, and the International Finance Corporation (IFC) have jointly announced a $45 million financing package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD). The financing agreement, signed on […]
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AFRICA – In significant efforts to strengthen public health and improve vaccine access in Africa, the US International Development Finance Corporation, the African Development Bank, and the International Finance Corporation (IFC) have jointly announced a $45 million financing package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD).

The financing agreement, signed on December 13, 2024, in the presence of Senegalese President Bassirou Diomaye Faye in Dakar, underscores Senegal’s leadership in advancing shared public health objectives. This investment will enhance vaccine production capacity, support local supply chains, and establish a robust network for vaccine distribution in alignment with the African Union’s Vision 2040, which seeks to produce 60% of the continent’s vaccine needs locally.

Strategic partnership to transform vaccine access in Africa

This landmark financing agreement is the result of a collaborative effort by key stakeholders:

Institut Pasteur de Dakar (IPD): A leading African institution with a long-standing tradition of vaccine production and health innovation. Its wholly owned subsidiary, VaxSen, focuses on the sustainable commercialization and distribution of vaccines produced by IPD.

A leading African institution with a long-standing tradition of vaccine production and health innovation. Its wholly owned subsidiary, VaxSen, focuses on the sustainable commercialization and distribution of vaccines produced by IPD. African Development Bank (AfDB): Committed to fostering regional development and self-sufficiency.

Committed to fostering regional development and self-sufficiency. International Finance Corporation (IFC): Dedicated to driving private sector-led solutions to global health challenges.

Dedicated to driving private sector-led solutions to global health challenges. US International Development Finance Corporation (DFC): The US government’s development finance institution, partnering with the private sector to address critical challenges in developing regions.

This collaboration will focus on expanding IPD’s state-of-the-art MADIBA facility, a hub for vaccine manufacturing, while driving job creation and economic growth.

The 45 million investment addresses critical gaps in global vaccine supply chains, paving the way for improved resilience against pandemics and preventable diseases. It also supports several key development goals. These include African Union Vision 2040, a roadmap to reduce dependence on imported vaccine sources and build robust health systems, and the United Nations Sustainable Development Goals (SDG 3 on Good Health and Well-being), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure).

Ousmane Fall, director of non-sovereign operations and acting director of industrial and trade development at the African Development Bank, said:

“The African Development Bank is honoured to support this critical initiative, which aligns with our 2030 Vision and Action Plan for the Development of Africa’s Pharmaceutical Industry. It demonstrates our strong commitment to (1) contribute to developing the maturity of the industry by scaling up local production capacities to increase the share and value of Africa’s pharmaceutical production, (2) support local manufacturers to serve national and regional health security needs, (3) mobilize global partners and resources to develop manufacturing capacity, skills, and technology transfer in Africa, and (4) provide long term finance to help established vaccine manufacturers to diversify their product portfolio of vaccines and technologies.”

Makhtar Diop, managing director, IFC, said:

“This partnership with the Institut Pasteur de Dakar demonstrates IFC’s commitment to strengthening Africa’s health infrastructure. By enabling local vaccine production, we are building a more resilient healthcare system to better address current and future challenges.”

Nisha Biswal, deputy director, DFC, said:

“DFC is proud to have supported IPD with a $15 million loan and an earlier $3 million technical assistance grant. These contributions enabled the construction of the MADIBA facility and the expansion of flexible vaccine manufacturing capacity. This facility will significantly enhance IPD’s ability to produce a variety of vaccines beyond its traditional focus on yellow fever vaccines. This partnership highlights our shared commitment to advancing global health and fostering innovative healthcare solutions. Together, we are paving the way for a healthier future, building on a century of scientific excellence and dedication to public health.”

Dr Amadou Sall, CEO, IPD:

“This partnership illustrates the power of collaboration in transforming health systems in Africa. With this funding, we are moving closer to vaccine sovereignty and ensuring that no African is left behind in accessing life-saving solutions.”

Assietou Diouf, CEO of VaxSen, commented:

“VaxSen is committed to leveraging innovation and partnerships to address health equity challenges. This financing marks a pivotal moment in delivering sustainable access to vaccines across Africa.”
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2024-12-17
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AFRICA – In significant efforts to strengthen public health and improve vaccine access in Africa, the US International Development Finance Corporation, the African Development Bank, and the International Finance Corporation (IFC) have jointly announced a $45 million financing package for VaxSen, a subsidiary of Senegal’s Institut Pasteur de Dakar (IPD). The financing agreement, signed on […]
The post Global Partners Invest $45M to boost African vaccine production appeared first on Caribbean News Global.
Global Partners Invest $45M to boost African vaccine production