Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Tuesday, September 9
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Africa»African Development Fund Invests Over $6 Million to Develop the Pharmaceutical Sector in Southern and Eastern Africa
    AFRICAN DEVELOPMENT FUND INVESTS OVER $6 MILLION TO DEVELOP THE PHARMACEUTICAL SECTOR IN SOUTHERN AND EASTERN AFRICA

    African Development Fund Invests Over $6 Million to Develop the Pharmaceutical Sector in Southern and Eastern Africa

    0
    By AdeO on November 12, 2022 Africa, Funding, Medicine

    The African Development Fund, the concessional lending arm of the African Development Bank  (AfDB) has approved a $6.63 million grant to the Common Market for Eastern and Southern Africa (COMESA) to develop the pharmaceutical sector in the sub-region.

    The project, which will be implemented over three years (2023-2025), is institutional support to develop the region’s pharmaceutical industry. In particular, it will build the capacity of pharmaceutical regulatory bodies, product quality control and management systems, and research and development institutions. The aim is to achieve the manufacture and marketing of safe, quality pharmaceutical products, for Covid-19 and other diseases.

    The project will support the sub-regional body in implementing continental strategies on pharmaceutical manufacturing and assist it in streamlining and harmonizing drug registration processes, as well as ensuring access to essential medical products and technologies. An information platform for pharmaceutical manufacturers, importers and exporters will also be created.

    The project will directly benefit public institutions responsible for the pharmaceutical industry’s development, such as national drug regulatory authorities, quality control laboratories, regional pharmacy training providers, universities, and research centres.

    Leila Mokaddem, the African Development Bank’s Director General for Southern Africa said, “The aim is to empower them to support the pharmaceutical sector so that they can produce safe essential medicines locally for the needs of the population, especially women and children.”

    “Most countries within the region have a weak and underdeveloped pharmaceutical industry. The region is heavily dependent on imports for most of its medical supplies. Furthermore, due to the low local pharmaceutical production, there is a high prevalence of counterfeit pharmaceutical products in circulation, which has serious consequences for the welfare of the region’s people,” she added.

    While the project is intended to directly benefit the ADF eligible countries of COMESA, other Bank Group member countries will be allowed to participate in project activities and events, but at a cost.

    The Common Market for Eastern and Southern Africa is a regional economic community comprising 21 countries: Burundi, Comoros, Democratic Republic of the Congo, Djibouti, Egypt, Eritrea, Eswatini, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Tunisia, Uganda, Zambia and Zimbabwe.

    Related

    AfDB COMESA Funding pharmaceuticals
    Share. Facebook Twitter Pinterest LinkedIn Email
    AdeO
    • X (Twitter)

    Related Posts

    Accion Closes $61.6m Fund to Back Early-Stage Fintechs Driving Global Inclusion

    Nigeria Digitizes Primary Healthcare Fund to Boost Transparency and Service Delivery

    Africa’s Business Heroes announces 2025 Top 20 finalists for US$1.5 million prize

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.