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May
30
2021
By The African Mirror
Fund for vaccine production in Africa

Fund for vaccine production in Africa

COVID-19
GLOBAL development groups including International Finance Corp (IFC) said they will explore helping African producers such as Aspen Pharmacare Holdings Ltd boost vaccine manufacturing in Africa, which received relatively few COVID-19 immunizations produced by rich nations. The news comes after the European Union last week promised 1 billion euros ($1.22 billion) to build vaccination manufacturing hubs in Africa. France's President Emmanuel Macron also promised on Friday to help the continent produce more vaccines locally. IFC's partners, including U.S. International Development Finance Corp (DFC), Proparco and German Development Finance Institution, said they will provide financing to manufacturers to strengthen vaccine production…
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Feb
19
2021
By The African Mirror
World Bank names Senegalese national to head IFC private-sector arm

World Bank names Senegalese national to head IFC private-sector arm

BUSINESS
The World Bank has named Makhtar Diop as the new managing director of its private sector arm, the International Finance Corp, a position key to boosting the bank's efforts to fight climate change and inequality. Diop, a Senegalese national and the former minister of economy and finance of the West African nation, is currently serving as the World Bank's vice president for infrastructure, where he oversees the bank's work across energy, transport, digital development and other sectors. He also served as the bank's vice president for Africa for six years, where he oversaw a record-breaking $70 billion in commitments. In…
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