The African Development Bank Group has recently signed an agreement to become an implementing entity of the Pandemic Fund, allowing them to coordinate financing of approved projects in Africa and participate in a call for proposals for financing investments. This agreement, signed with the World Bank Group, qualifies the African Development Bank to access a share of $500 million in funding for pandemic-related programs in low and middle-income countries.
The Pandemic Fund, hosted by the World Bank and supported by various donor countries, co-investors, foundations, and civil society organizations, aims to strengthen health systems and increase investments in pandemic prevention, preparedness, and response. As a implementing entity, the African Development Bank will not only coordinate financing for approved projects but also provide oversight and implementation support to beneficiary organizations.
The Fund has already financed two calls for proposals and approved 47 projects impacting 75 countries globally. With a focus on sub-Saharan Africa, where there is a high demand for Pandemic Fund grants, the Bank’s collaboration aligns with its Strategy for Quality Health Infrastructure in Africa. This strategy aims to enhance healthcare infrastructure and improve health outcomes on the continent.
One of the Bank’s recent initiatives includes approving $124 million in financing for healthcare access expansion in Morocco. This program supports the country’s specialized healthcare services, building hospitals, and providing telemedicine facilities. By continuing to collaborate with the Pandemic Fund, the African Development Bank aims to strengthen healthcare systems across Africa.
Established in September 2022, the Pandemic Fund was formally announced at the Group of 20 meetings in Bali, Indonesia. The Bank’s involvement as an implementing entity demonstrates its commitment to supporting healthcare infrastructure and improving health outcomes in Africa.
For more information about the African Development Bank Group and its initiatives, visit their website at www.AfDB.org.
