The World Bank says it will spend $12 billion supporting vaccination programs against COVID-19 in African countries.
The African Presidency said this in a statement on its website on Saturday.
World financial body said the money will be in the form of grants or on “highly concessional terms,” said South African President, Cyril Ramaphosa.
Ramaphosa’s statement followed a January 27 virtual meeting on the Africa Covid-19 vaccine financing and deployment strategy, which was attended by the President of the World Bank, David Malpass.
Africa needs about $9bn to finance enough Covid-19 vaccines for 60 percent of its population, 1.3 billion, to halt the pandemic on the continent, officials say.