Menu
Indimi
Advert

Business

EU Contributes €1 Billion For Vaccines To Low, Middle-income Countries

Published

on

The European Union has announced today an additional €500 million for the COVAX Facility, doubling its contribution to date for the global initiative that is leading efforts to secure fair and equitable access to safe and effective COVID-19 vaccines in low and middle-income countries.

This new pledge brings us closer to achieving COVAX’s target to deliver 1.3 billion doses for 92 low and middle income countries by the end of 2021.

Team Europe is one of the lead contributors to COVAX with over €2.2 billion, including another €900 million pledged today by Germany.

Announcing the new contribution at the G7 virtual leaders’ meeting, President of the European Commission, Ursula von der Leyen, said: “Last year, as part of our Coronavirus Global Response, we committed to ensuring universal access to vaccines everywhere on Earth, for everyone who would need them. COVAX is best placed to help us reach this goal. This is why we decided to double the European Commission’s contribution to COVAX, to €1 billion. With this new financial boost we want to make sure vaccines are soon delivered to low and middle-income countries. Because we will only be safe if the whole world is safe.”

Jutta Urpilainen, Commissioner for International Partnerships, added: “We are in a race against the virus and COVAX is our best hope that all our partners, in Africa and elsewhere, have access to safe and effective COVID-19 vaccines.

The EU has been leading efforts in international fora, such as the G20 and G7, to guarantee that collectively we ensure that COVID-19 vaccines become a global public good. This is why today we are doubling our support to COVAX.”

Stella Kyriakides, Commissioner for Health and Food Safety, stressed: “Humanism and solidarity are essential values for Europe. These values have been our compass since the onset of the pandemic.”

The EU has invested close to €3 billion to pre-finance the production of safe and effective vaccines, which will benefit not only the EU but citizens across the world.  

Vaccines produced in Europe are now going all over the world and we as Team Europe are working to share doses secured under our advanced purchase agreements preferably through COVAX with the Western Balkans, Neighborhood and Africa – benefitting above all health workers and humanitarian needs.

The contribution announced today is composed of a new €300 million EU grant and €200 million in guarantees by the European Fund for Sustainable Development plus (EFSD+) that will back a loan by the European Investment Bank.

This is subject to the adoption of the Neighbourhood, Development and International Cooperation Instrument (NDICI) by the Council and the European Parliament.

The EIB loan to be guaranteed by EFSD+ is subject to the approval of the EIB’s Board of Directors. These funds will complement a previous €100 million grant and €400 million in guarantees from the EU budget.

To date, a total of 191 countries participate in the COVAX Facility, 92 of them low and middle-income economies eligible to get access to COVID-19 vaccines through Gavi COVAX Advance Market Commitment (AMC). Most of these are in Africa.

Through these contributions, the Commission and its partners will secure purchase options for future COVID-19 vaccines for all the participants in the Facility.

Vaccines will be procured and delivered to countries by the UNICEF Supply Division and the PAHO’s Revolving Fund for Access to Vaccines.

The fast arrival of safe and effective COVID-19 vaccines has shown that multilateralism and multi-actor partnerships work to solve the most pressing problems of our time.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Rwanda’s Weekly Agro Exports Performance

Published

on

Last week Rwanda shipped out various tonnes of horticultural products coffee and tea fetching an impressive amount of foreign revenue.

According to National Agricultural Export Development Board (NAEB) mandated to develop and enhance Rwanda’s agricultural exports, Last week Rwanda exported 255,298Kg of horticultural products which earned U$441,679.

Details show the Main Countries of destination of Rwanda’s horticultural products were mainly Holland, United Kingdom, DRC, Germany, among others including USA, UAE, France, Uganda, Belgium, Tanzania and Denmark.

A total of 431,107Kg of Rwanda Coffee worth U$1,383,622 was exported compared to previous week, export quantities and revenues increased by 86.2% and 83.9% respectively. 52.2% of the consignment was fully washed. Destinations: China, UK, Belgium, Russia, Kenya, South Sudan & Nigeria.

Meanwhile, 449,000Kg of Rwanda Tea  were exported generating U$1,146,118. Compared to last week, the average price slightly reduced from U$2.78/Kg to U$2.5/Kg. Main country buyers were Pakistan, and UK among others.

Continue Reading

Business

Tanzania Unveils Aggressive Plan For Livestock

Published

on

Tanzania has announced that it is seeking to revamp its livestock subsector with the aim of making it more profitable.

Dr. Jonas Kizima the Acting Director-General of Tanzania Livestock Research Institute (Taliri) said on Tuesday that Preliminary studies have discovered that most industries in the livestock products category are performing shoddily due to poor production and supply of raw materials.

The Tanzanian government said it is embarking on implementing a special five-year programme (2021-2025) to push for improvement of the livestock industry.

“The programme seeks to enable stakeholders in the beef and dairy cattle chains in all regions of to improve their performance by adopting better technologies and practices so that they can stand a professional chance to meet actual raw material demand in the livestock industry,” Dr. Jonas Kizima said.

Tanzania is therefore arguing that it is going to introduce and help livestock keepers across the country to raise hybrid animals, provide best animal health services, animal compounded and feeds, put in place animal husbandry infrastructure, improve milk handling, grazing systems and maintain good diary animal genetics.

“Inbreeding is the biggest technical challenge livestock keepers are facing- it is detrimental to livestock,” Dr Kizima noted.

The new agenda is in compliance with President John Magufuli’s directive issued to revive and promote animal industries for the next five years in the coastal East African country.

According to Concerns by Magufuli at least 90% of animal skins and skins produced in Tanzania were of very poor quality due to poor slaughtering methods.

Magufuli says he is seeking to motivate investors from within and outside the country to invest in meat industries, but also in leather production and other animal products such as hoofs.

Under this new program, Tanzania wants to construct seven major abattoirs in different regions with the capacity to slaughter at least 6700 cows and 11000 goats per day.

Continue Reading

Business

Global Oil Prices Fall Ahead of OPEC Meeting

Published

on

As the alliance of Oil producing countries under OPEC meet on Thursday, global oil prices have reportedly fallen according to sector experts.

Details indicate that the alliance is expected to loosen the taps after prices got off to their best ever start to a year.

But it’s unclear how robustly the group will act, with the Saudi Arabian energy minister calling for producers to remain “extremely cautious.”

The market continues to face risks in the near term. China’s Unipec was re-offering cargoes of April Angolan crude amid weaker sales.

Diesel demand in India was also down versus a year earlier amid record pump prices in the country. Both point to a limit on some of the recent firmness seen within the oil market.

“Now that oil’s back at $60, there’s going to be a push to wean off of those cuts,” said Stewart Glickman, energy equity analyst at CFRA Research.

“The question is how much are they going to bring back. The biggest risk is if supply presumes we’re back to pre-pandemic demand in 2021 and that turns out not to be the case.”

Still, there has been a raft of bullish calls in recent weeks predicting the rally will continue as the producer response trails consumption, while maintenance in North Sea fields is set to further reduce supply.

There are also some signs that demand is starting to pick up. U.S. gasoline demand jumped by 1 million barrels a day last week to 8.76 million barrels a day, a level comparable to March 2020 before the pandemic, according to Descartes Labs.

“People have become very optimistic about the ability of OPEC+ to manage a return to a balanced market,” said Michael Lynch, president of Strategic Energy & Economic Research.

The market continues to “see improved demand down the road and OPEC+ not oversupplying the market as they ramp up again.”

The Organization of Petroleum Exporting Countries and its allies must decide how much output gets restored — and at what pace — with current reductions amounting to just over 7 million barrels a day, or 7% of global supply.

The 23-nation coalition will choose whether to revive a 500,000-barrel tranche in April, and in addition, whether the Saudis confirm an extra 1 million barrels they’ve taken offline will return as scheduled.

Citigroup Inc. thinks the coalition will boost output by about 500,000 barrels a day next month, with Saudi Arabia unlikely to continue its voluntary curbs.

“A higher oil-price environment, an increasingly promising demand picture by summer, and the recovering but still growing U.S. oil production outlook for 2021 should give OPEC+ the confidence to slightly increase supply,” said Louise Dickson, an analyst at consultant Rystad Energy AS.

Continue Reading
Advertisement
Advertisement
Advertisement Enter ad code here
Advertisement Enter ad code here

Trending