AfDB's Adesina Speaks on Covid Vaccine, Debt

AfDB’s Adesina Speaks on Covid Vaccine, Debt

By Development Diaries
February 11, 2021

African Development Bank (AfDB) President Akinwumi Adesina has called for fair access to Covid-19 vaccines for Africans.

The AfDB chief also said debt relief would help African economies recover faster and better from the pandemic.

Africa, which has surpassed three million confirmed cases since the start of the pandemic, seeks to vaccinate about 780 million people, representing some 60 percent of its population of 1.3 billion.

According to the Africa Centres for Disease Control and Prevention (Africa CDC), 1.5 billion doses are needed, assuming two doses per person, estimating the effort will cost some $10 billion.

‘There is light at the end of the tunnel – it just happens to be a very long tunnel’, Adesina said at a virtual event held in his honour as the outgoing African of the Year of African Leadership Magazine.

‘I am very positive that African economies will bounce back over the next two years, but the speed of recovery will depend on ensuring that Africa gets enough vaccines for its population.

‘The world must not short-change Africa on access to vaccines’.

The World Health Organisation (WHO) had called for a full commitment to COVAX – the global vaccine-sharing scheme.

It is understood that more than 180 countries have so far signed up to the COVAX initiative.

The global initiative aims to start shipping nearly 90 million Covid-19 vaccine doses to the continent in February, in what will be Africa’s largest ever mass vaccination campaign.

Furthermore, Adesina said significant debt relief would be key to accelerating African economies’ recovery from the Covid-19 crisis.

‘To recover faster, Africa will need significant debt forgiveness from bilateral and official creditors’, he said.

‘While developed countries have been spending trillions of dollars for fiscal stimulus, Africa does not have such resources. The payment for vaccines is already adding to the already high debt burden’.

Chairperson of the AU, President Cyril Ramaphosa, had announced the purchase of 270 million Covid-19 vaccine doses for the continent.

The AU chief said at least 50 million of the doses will be available in the months of April to June and the rest will be delivered before the end of 2021.

Source: AfDB