The African Development Bank (AfDB) has warned that the economies of countries in Africa would continue to remain in jeopardy until the continent resolves the COVID-19 vaccination problems.
President of the AfDB, Dr Akinwumi Adesina, who made this known while addressing the Economic Community of West African States’ (ECOWAS) Authority of Heads of State and Government in Accra, Ghana, during the weekend, stressed the need for the continent to take the challenge to start the production of its own vaccines, not just for COVID-19, but also to create a safeguard against future outbreaks.
Adesina however expressed grave worry over the alarming debt challenge of the African continent, calling particular attention to the situation in the West African subregion, noting that low-income West African countries would need as much as $245 billion to fix.
Speaking on the insecurity situations and insurgencies which now pose the biggest risks to Africa’s development, he posited that the African Development Bank calls for the development of Security Indexed Investment Bonds, taking advantage of lower long-term interest rates.
