The World Bank has approved $400 million credit facility for the purchase and deployment of COVID vaccines in Nigeria.
The approval was announced in a statement issued by the World bank.
According to the statement, the approval was granted on Thursday, and the fund is expected to be used to finance easier access to vaccines for Nigeria.
“The Government of Nigeria today received approval from The World Bank Board of Directors for a $400 million credit in additional financing from the International Development Association (IDA) to provide upfront financing for safe and effective COVID-19 vaccine acquisition and deployment within the country. This will be implemented as part of the COVID-19 Preparedness and Response Project,” the statement reads.
“Building on the Government’s plan to break the chain of local transmission of COVID-19 and limit the spread of the virus, the original COVID-19 Response program will be expanded to enable equitable access to purchase affordable COVID-19 vaccines for 18 percent (40 million) of Nigeria’s population and support effective vaccine deployment to 50 percent (110 million) of its citizens.
“The additional financing will allow Nigeria purchase and deploy COVID-19 vaccines, strengthen relevant health systems that are necessary for a successful deployment and to prepare for future health emergencies.
“Critically, it will permit the acquisition of vaccines to support Nigeria’s objective to have access vaccines under the right conditions (of value-for-money, regulatory approvals, and delivery time among other important features). This will ensure that the Government meets its plans to vaccinate 51percent of its population in two years.”
