The World Bank is intensifying support for Africa’s COVID-19 vaccine rollout, emphasizing the dire economic and human toll of delays.
Speaking at a webinar hosted by President Cyril Ramaphosa on January 28, 2021, a World Bank representative highlighted that each month’s delay costs Africa $13.8 billion in GDP.
With tens of millions pushed into extreme poverty and human capital eroding due to job losses, school closures, and missed vaccinations, rapid deployment is critical.
The Bank has committed $25 billion since March 2020 for health and economic recovery, with $15 billion more by June 2021, including $12 billion for vaccine programs to save lives and livelihoods.
Financing and Support for Vaccine Deployment
The World Bank’s $12 billion facility supports vaccine procurement and deployment, offering grants or concessional terms for most African countries.
Emergency financing is underway for 21 nations, including DRC, Ethiopia, and Tunisia, with Lebanon’s recent $34 million approval set to vaccinate 2 million by February 2021.
The Bank collaborates with WHO, UNICEF, and COVAX for logistics, cold chain equipment, and community engagement.
The IFC is mobilizing funds for vaccine production in developing nations.
Addressing Africa’s Vaccination Challenges
Effective vaccine rollout requires robust infrastructure—cold chains, transport, and trained staff.
The World Bank is addressing readiness gaps, urging countries to avoid complex contracts that slow progress. Direct manufacturer deals, facilitated by the Bank, ensure timely delivery.
President Ramaphosa’s leadership in the AU’s AVAT, securing 400 million Johnson & Johnson doses, aligns with these efforts.
The Bank encourages countries to request support via letters to Country Directors, ensuring swift access to the $12 billion facility.
Economic and Social Stakes
COVID-19’s toll—over 3.5 million cases and 88,000 deaths in Africa by January 2021—demands urgent action. School closures and health setbacks threaten long-term development, with millions facing poverty.
The Bank’s $40 billion commitment, including vaccine funding, aims to mitigate these losses.
The Bank’s partnerships with COVAX and AU target 60% immunization, but delays risk worsening variants like 501Y.V2, per WHO warnings. Swift action is vital to protect vulnerable populations and economies.
Call to African Leaders
The World Bank urges African leaders to prioritize vaccinations, leveraging available financing. Countries like Eswatini and Mozambique are already engaging, but others must act quickly.
The representative emphasized direct engagement with manufacturers and partners like UNICEF to streamline deployment.
With the Bank’s support, Africa can close the vaccination gap, curb GDP losses, and foster recovery, but leaders must move decisively to secure doses and protect citizens.
