{"id":50136,"date":"2021-06-23T18:10:34","date_gmt":"2021-06-23T17:10:34","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=50136"},"modified":"2021-06-23T18:10:34","modified_gmt":"2021-06-23T17:10:34","slug":"africa-should-be-producing-not-begging-for-covid-19-vaccines-says-afdb-president","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/06\/23\/africa-should-be-producing-not-begging-for-covid-19-vaccines-says-afdb-president\/","title":{"rendered":"Africa should be producing not &#8220;begging for COVID-19 vaccines&#8221;, says AfDB president"},"content":{"rendered":"<p>President of the African Development Bank, Akinwumi Adesina has stated that the continent needs to start producing and not beg for COVID-19 vaccines.<\/p>\n<p>This was stated by the AfDB President, Adesina during<span data-preserver-spaces=\"true\">\u00a0the opening ceremony of the 2021 meetings of the African Development Bank (AfDB) on Wednesday.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The AfDB president said the coronavirus pandemic impacted African economies negatively as countries are estimated to lose between $145 billion and $190 billion in the gross domestic product (GDP).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe effects of the pandemic on the continent\u2019s <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/16\/fg-inaugurates-committee-to-draft-bill-to-transit-to-knowledge-economy\/\">economy<\/a> have been massive. Africa\u2019s stimulated GDP losses are estimated between $145 billion and $190 billion,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAfrica will need a lot of resources to support its recovery. Real income sub-Saharan African countries alone will need $245 billion by 2030, while all sub-Saharan African countries will need $425 billion by 2030.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAnd the challenge of development just got even harder as 30 million people fell into extreme poverty, and an estimated 39 million people could fall into poverty by the end of 2021.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Adesina said AfDB supported African economies by launching a $3 billion social impact fund on global capital markets and a $10 billion crisis response facility during the pandemic.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He said the bank also provided $28 million to the Africa Centres for Disease Control to tackle the spread of COVID-19.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Adesina expressed optimism that economies across the continent are on the road to recovery, with an average projected growth in GDP of 3.4 percent in 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He added that the recovery is based on access to vaccines and debt resolution.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cNow the recovery is conditional on access to vaccine and the resolution of Africa\u2019s debt. Africa produces less than one percent of its vaccines. Africa should not be begging for vaccines, Africa should be producing vaccines,\u201d he added.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe African Development Bank will support Africa to produce vaccines in spite of the vaccines plan of the African Union. The bank will also plan to commit $3 billion to develop the pharmaceutical industry in Africa.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe remain highly committed to the success of the Africa Continental Free Trade Area (AfCFTA), that is why the bank provided $4.8 billion to support the establishment of the Africa Continental Free Trade Area (AfCFTA) secretariat based in Ghana.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President of the African Development Bank, Akinwumi Adesina has stated that the continent needs to start producing and not beg for COVID-19 vaccines. This was stated by the AfDB President, Adesina during\u00a0the opening ceremony of the 2021 meetings of the African Development Bank (AfDB) on Wednesday. The AfDB president said the coronavirus pandemic impacted African [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":4582,"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":[11619,8634,780,425],"class_list":["post-50136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","tag-afdb-president","tag-african-countries","tag-akinwumi-adesina","tag-covid-19-vaccines"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Africa should be producing not &quot;begging for COVID-19 vaccines&quot;, says AfDB president<\/title>\n<meta name=\"description\" content=\"President of the African Development Bank, Akinwumi Adesina has stated that the continent needs to start producing and not beg for COVID-19 vaccines.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/23\/africa-should-be-producing-not-begging-for-covid-19-vaccines-says-afdb-president\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa should be producing not &quot;begging for COVID-19 vaccines&quot;, says AfDB president\" \/>\n<meta property=\"og:description\" content=\"President of the African Development Bank, Akinwumi Adesina has stated that the continent needs to start producing and not beg for COVID-19 vaccines. This\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/23\/africa-should-be-producing-not-begging-for-covid-19-vaccines-says-afdb-president\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-23T17:10:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/03\/kunlenet07\/2021\/03\/14\/Akinwumi-Adesina.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal Chocomilo\" \/>\n<meta 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