The African Export-Import Bank (Afreximbank) and the Africa Center for Disease Control and Prevention (Africa CDC) announced a new $2 billion cooperation agreement to support health and pharmaceutical manufacturing in Africa.
ADDIS ABABA, June 21 (Xinhua) — The African Export-Import Bank (Afreximbank) and the Africa Center for Disease Control and Prevention (Africa CDC) announced a new $2 billion cooperation agreement to support health and pharmaceutical manufacturing in Africa.
As part of this new collaboration, Afreximbank has also committed a $2 billion facility for the Africa Health Security Investment Plan, to support the ambition of manufacturing health products on the continent, a indicated the Africa CDC in a press release published Thursday.
Although African pharmaceutical companies face the major impact of global health, security and economic challenges, the Africa CDC believes that they are the drivers of investment and technological progress that the sector needs.
Low investor confidence, lack of suitable infrastructure, trade barriers and regulatory challenges are among the constraints weighing on investment in the health sector in Africa. Funds may be available, however a large number of investments do not materialize due to financial and non-financial obstacles, according to the Africa CDC.
 Afreximbank and Africa CDC pledge $2 billion to support African pharmaceutical manufacturing – Xinhua){kind=link}