Africa Aid Cabo Verde Cape Verde Coronavirus FA Finance Health

World Bank provides Cape Verde with US$5M to fund vaccines

World Bank made public that a US$5M credit line was made available to support Cape Verde efforts to acquire vaccines and protective equipment against Covid-19, the first action of this kind with an African country.

Financing will be made available by International Development Association (IDA) – an international financial institution whose focus is to provide concessional loans and grants to developing countries – and will allow Government of Cape Verde to purchase 400,000 vaccines, along with various personal protective equipment, such as masks and medical supplies.

“After months of rigorous work and great collaboration, we are very pleased with the approval by the World Bank of this additional funding to help Cape Verde purchase and distribute vaccines against the covid-19 virus”, stated Cape Verdean Deputy Prime Minister and Finance Minister Mr. Olavo Correia.

Apart from this recent initiative and in response to the covid-19 pandemic in Cape Verde, the World Bank already approved financing of US$50M, aiming to strength health care, social support and economic activity restart.

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