{"id":16518,"date":"2024-12-14T08:18:53","date_gmt":"2024-12-14T04:18:53","guid":{"rendered":"https:\/\/gbc1.net\/?p=16518"},"modified":"2024-12-20T18:11:08","modified_gmt":"2024-12-20T14:11:08","slug":"afdb-dfc-and-ifc-inject-45m-for-vaxsen-to-boost-vaccine-production-in-senegal","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2024\/12\/14\/afdb-dfc-and-ifc-inject-45m-for-vaxsen-to-boost-vaccine-production-in-senegal\/","title":{"rendered":"AfDB, DFC and IFC Inject $45M for VaxSen to Boost Vaccine Production in Senegal"},"content":{"rendered":"\n

On 13 December 2024, the African Development Bank (AfDB), the US Development Finance Corporation (DFC) and the World Bank International Finance Corporation (IFC) signed an agreement with VaxSen in Senegal to provide financing to the tune of USD 45 million. The signing ceremony was witnessed by the Senegalese President Bassirou Faye who commended the initiative as a key step to enhance #VaccineEquity<\/a> and #HealthSovereignty<\/a> in Africa.<\/p>\n\n\n\n

As per the African Union’s Vision 20240 plan, Africa aims to produce at least 60% of its vaccine needs on the continent. The lessons learnt during the #COVID<\/a> pandemic has greatly motivated Africa to pay more attention and put more efforts directed at equitable #HealthAccess<\/a>.<\/p>\n\n\n\n

At the same time, the project will contribute to fulfil the United Nations Sustainable Development Goals (#SDG<\/a>). In particular, the project touches upon SDG 3 on health and wellness, SDG 8 on decent work and economic growth and SDG 9 on industrialization, innovation and infrastructure.<\/p>\n\n\n

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\"\"<\/figure><\/div>\n\n\n
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“The AfDB is greatly honored to support this crucial initiative which is aligned with the bank’s own Vision 2030 and our Action Plan for the Development of the Pharmaceutical Industry in Africa. It also clearly demonstrates our firm commitment towards the development of the pharma industry in Africa.” <\/p>\nAfDB Director of Non-Sovereign Department Ousmane Fall <\/cite><\/blockquote>\n\n\n\n

VaxSen is a spin-off from the Pasteur Institute of Dakar (PID)<\/a>. While PID will focus on vaccine development, VaxSen will take the responsibility for the marketing and distribution of the vaccine in Senegal and beyond. In the same vein, PID recently built the state-of-the-art Madiba facility to enhance its vaccine production capacity with the financial support of the European Investment Bank (EIB).<\/p>\n\n\n\n

Out of the USD 45 million, DFC<\/a> provided USD 15 million. The Deputy Director of DFC Nisha Biswal recalled that the DFC initially provided a grant of USD 3 million as part of a technical assistance package to the Pasteur Institute of Dakar and is happy to see the program materialize into vaccine production today.<\/p>\n\n\n

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Inauguration of Diamniadio Vaccinopolis in context of !00th Anniversary of Pasteur Institute of Dakar <\/figcaption><\/figure><\/div>\n\n\n

For her part, the Director-General of VaxSen Assietou Diouf reiterated her company’s commitment to leverage the latest innovation and global partnerships in order to address pressing challenges in terms of health equity and access. She strongly believes that the project is not just a milestone for Senegal, but also for Africa. <\/p>\n\n\n\n

As an embodiment of #AUVision2040<\/a>, a section of the #Diamniadio<\/a> Smart City was officially inaugurated and earmarked for the development of a vaccine ecosystem in Senegal. The opening of Diamniadio #Vaccinopolis<\/a> and the signing for the VaxSen deal coincided with the centenary celebrations of the Pasteur Institute of Dakar.<\/p>\n","protected":false},"excerpt":{"rendered":"

On 13 December 2024, the African Development Bank (AfDB), the US Development Finance Corporation (DFC) and the World Bank International<\/p>\n","protected":false},"author":1,"featured_media":16523,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[10],"tags":[744,66,742,741,725,39,374,743],"yoast_head":"\nAfDB, DFC and IFC Inject $45M for 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