In a statement on Monday, the bank said the new institution would significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.
The AfDB said the foundation will operate independently and raise funds from various stakeholders including governments, development finance institutions, philanthropic organisations, among others.Commenting on the development, Akinwumi Adesina, AfDB president, described it as a great development for Africa.
“Even with the decision of the TRIPS Waiver at the World Trade Organization , millions are dying — and will most likely continue to die — from lack of vaccines and effective protection.“The African Pharmaceutical Technology Foundation provides a practical solution and will help to tilt the access to proprietary technologies, knowledge, know-how, and processes in favor of Africa”.
Ngozi Okonjo-Iweala, WTO director-general, was quoted as saying; “the African Pharmaceutical Technology Foundation is innovative thinking and action by the African Development Bank.
AfDB_Group akin_adesina Great jobs Sir akin_adesina
AfDB_Group akin_adesina Nice one and very commendable sir akin_adesina
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