Vaccines, Debt Relief Key to Africa’s Covid-19 Recovery – Adesina

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has called for fair access to COVID-19 vaccines for Africans.

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

Speaking during a virtual event held recently in his honour as the outgoing African of the Year of African Leadership Magazine, the bank’s President warned that so long as the coronavirus was unchecked in any part of the world, no one would be safe.

“There is light at the end of the tunnel – it just happens to be a very long tunnel. 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,” a statement quoted Adesina to have said during the event.

“The world must not short-change Africa on access to vaccines,” he added.

He also 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 during the event attended by the Governor of Bayelsa State, Douye Diri, and Chairman of Contec Global Worldwide, Benoy Berry.

Adesina added: “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.”

Adesina, vowed that the bank, in collaboration with its partners, would continue to lead Africa’s recovery and development after the pandemic, with a focus on youth, women and healthcare.

“Together, we will create new opportunities for African youth and trigger a youth-based wealth system for Africa. Together, we will ensure that we deliver financing for African women,” he said.

He stressed: “Together, we will support Africa to build world-class, quality healthcare infrastructure, while ensuring also that the continent builds its pharmaceutical and vaccine industrial production.”