{"id":107149,"date":"2021-11-14T14:26:42","date_gmt":"2021-11-14T13:26:42","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=107149"},"modified":"2021-11-14T14:44:39","modified_gmt":"2021-11-14T13:44:39","slug":"afdb-president-explains-how-ecowas-countries-can-improve-health-sector-funding","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/11\/14\/afdb-president-explains-how-ecowas-countries-can-improve-health-sector-funding\/","title":{"rendered":"AfDB president explains how ECOWAS countries can improve health sector funding"},"content":{"rendered":"<p>The African Development Bank Group (AfDB) has stated that investment in healthcare by the Economic Community of West African States (ECOWAS) must be tailored to meet the needs of the populace.<\/p>\n<p>This was made known by president of AfDB, Akinwumi Adesina at the 22nd ordinary session of the assembly of <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/14\/can-to-fg-rising-cooking-gas-prices-electricity-tariff-will-inflict-hardship-on-nigerians\/\">ECOWAS<\/a> health ministers.<\/p>\n<p>Beth Dunford, vice-president for agriculture, human and social development at the AfDB represented Akinwumi Adesina at the event.<\/p>\n<p>Adesina called for investments in health infrastructure from the private sector, development finance institutions and diaspora groups.<\/p>\n<p>\u201cThe portfolio will include investment projects, results-based financing, risk-sharing instruments to leverage private sector resources, debt and equity investments in private companies and promotion of innovative sources of finance, such as diaspora funds,\u201d he said.<\/p>\n<p>\u201cFilling the financing gap for health infrastructure will require mobilising finances from the private sector, development finance institutions and diaspora groups.<\/p>\n<p>\u201cAcross Africa, only 10 to 20 per cent of investment in health service delivery infrastructure is mobilised by the private sector, due largely to high levels of investment risk.<\/p>\n<p>\u201cThe limited coverage of health insurance and the dominance of out-of-pocket expenditure in health financing also make it more difficult for investors to secure a financial return.<\/p>\n<p>\u201cAs a result, private sector investments in health infrastructure have been concentrated in brownfield investment to expand existing hospitals.\u201d<\/p>\n<p>Adesina said there is potential for mobilising funding from diaspora communities and associations, either directly or through instruments such as diaspora bonds.<\/p>\n<p>\u201cSince the late 1980s, India has used fiscal and non-fiscal incentives to stimulate diaspora investment in health services and nine of the top 15 hospitals in India have been set up through such investments,\u201d he said.<\/p>\n<p>\u201cWe draw on our core expertise in infrastructure development and working with other development partners in support of national health system, strengthening plans and in support of enhancing African health system resilience.<\/p>\n<p>\u201cInput from ministers in the bank\u2019s 54 regional member countries, development partners and civil society is expected to strengthen the bank\u2019s strategy for quality health infrastructure in Africa.\u201d<\/p>\n<p>Adesina said COVID-19 is not fully out of the way but a focus on health systems and infrastructure for inclusive economic growth is crucial.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The African Development Bank Group (AfDB) has stated that investment in healthcare by the Economic Community of West African States (ECOWAS) must be tailored to meet the needs of the populace. This was made known by president of AfDB, Akinwumi Adesina at the 22nd ordinary session of the assembly of ECOWAS health ministers. Beth Dunford, [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":72292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[38],"tags":[2677,780,5789,22400],"class_list":["post-107149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","tag-afdb","tag-akinwumi-adesina","tag-ecowas","tag-health-investments"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB president explains how ECOWAS countries can improve health sector funding<\/title>\n<meta name=\"description\" content=\"The African Development Bank Group (AfDB) has stated that investment in healthcare by the 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