Billion dollar funding package agreed for universal health coverage in Africa
Wednesday, August 31, 2016
The World Bank and the Global Fund will invest $24bn in Africa over the next three to five years in order to accelerate universal health coverage across the continent. The bank and the fund, which works to tackle AIDS, TB and malaria, announced the funding at a Japanese-backed conference on African development in Kenya last week.
The World Bank said it expects to contribute $15bn in the next five years to investments that are critical to universal health coverage, including in areas like pandemic preparedness, nutrition, early childhood development and leveraging the private sector.
The Global Fund’s $9bn commitment for 2017-19 includes $6bn in investments towards the prevention of its core diseases (HIV, TB and malaria), as well as $3bn of investments in improved systems for health, including procurement, data quality and management, and human resources.
The fund’s commitment however is contingent on it receiving a $13bn in financing when its annual replenishment period opens in September.
- impact investing