{"id":3706,"date":"2023-02-20T14:05:57","date_gmt":"2023-02-20T14:05:57","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=3706"},"modified":"2023-02-20T14:05:57","modified_gmt":"2023-02-20T14:05:57","slug":"africa-afdb-isdb-strike-deal-to-boost-nigerias-others-pharmaceutical-sector","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/africa-afdb-isdb-strike-deal-to-boost-nigerias-others-pharmaceutical-sector\/","title":{"rendered":"Africa: AfDB, IsDB strike deal to boost Nigeria\u2019s, others\u2019 pharmaceutical sector"},"content":{"rendered":"

African Development Bank Group (AfDB<\/a>) and the Islamic Development Bank (IsDB) have signed an action plan for the development of the pharmaceutical industry sector within their African member countries.<\/p>\n

\u00a0The plan offers a new framework for strengthened cooperation and mutual development priorities, with a strong emphasis on boosting the continent\u2019s health defense systems.<\/p>\n

The aide-memoire was signed at the weekend at the headquarters of the IsDB in Jeddah, Saudi Arabia, by Dr. Abdu Mukhtar, Director of Industrial and Trade Development for AfDB and IsDB\u2019s Director, Economic and Social Infrastructure Department, Idrissa Dia.<\/p>\n

The signing rounded out two days of presentations and deliberations on the institutions\u2019 health strategies for Africa and the AfDB\u2019s Pharmaceutical Action Plan.<\/p>\n

During the sessions, teams from both institutions discussed a pipeline of pharmaceutical projects proposed for co-financing, as well as potential collaboration in advocacy and knowledge creation for their member countries.<\/p>\n

The Plan enables both institutions to grow a pipeline of bankable projects around key complementary themes to which each institution would bring their comparative advantage.<\/p>\n

The plan covers lending to public and private sector projects and pharmaceutical development projects using a regional approach.<\/p>\n

The institutions will also cooperate on the organisation of a global Pharmaceutical Business Forum in May 2023 at the General Annual Meetings of the AfDB.<\/p>\n

The event will bring together key pharmaceutical sector industry captains, including big pharma companies, continental, regional and governmental regulatory agencies, technology transfer entities.<\/p>\n

The gathering will deliberate on business opportunities, vaccine off-take agreements, pharmaceutical technology transfer agreements and project preparation resources, among other topics.<\/p>\n

\u201cThe AfDB Group places considerable importance on partnerships in its contributions to sustainable development in Africa. Through partnership we can go further, we can increase development effectiveness, we can leverage our complementarities and harness our synergies,\u201d Vice President of Infrastructure, Private Sector and Industrialisation, Solomon Quaynor, said.<\/p>\n

In addition to defining the plan, IsDB\u2019s Director-General, Country Programmes, Anasse Aissami, urged the participants to expedite implementation of the pharmaceutical programmes with focus on increasing local production and regulatory support.<\/p>\n

Amer Bukvic, Acting Director-General, Global Practices and Partnerships, seconded his remarks, adding: \u201cWe will solidly establish and operationalise the health and pharmaceutical collaboration, and we will work hard to enhance the technical cooperation\u201d.<\/p>\n

In 2017, heads of the two institutions signed a co-financing Memorandum of Understanding to scale up co-financing activities over the period 2018-2020.<\/p>\n

A sum of $2 billion was earmarked for co-financing, split between the two institutions. The MoU was extended to December 2023 to intensify co-financing across strategic sectors such as infrastructure development; human development; private sector development and investment promotion.<\/p>\n

\u201cThere is room to extend our partnership under the umbrella of the existing MoU to our priority sectors,\u201d Desire Vencatachellum, Director, Financial Mobilization and Partnerships for the African Development Bank noted during the meetings.<\/p>\n

Following the signing, Dia, highlighted the need to increase cooperation across all human development sectors and initiatives, given the strong strategic and operational alignment between the IsDB and the African Development Bank across the health, pharmaceutical, education, water and sanitation sectors.<\/p>\n

\u201cThe African Development Bank\u2019s Pharmaceutical Action Plan is well aligned with IsDB\u2019s strategy in the pharma sector. We will work collaboratively and with other partners to achieve results in this sector, which is critical to Africa\u2019s development,\u201d Mukhtar said.<\/p>\n

Dr. Ammar Abdo, Human Development Manager indicated that the IsDB-AfDB health industrialization initiative is a deep dive exercise between the two sisters\u2019 institutions on strategic and operational health matters.\u201d<\/p>\n

Also present, Martha Phiri, Director of Human Development Department noted the alignment of the Health Infrastructure Strategy of the African Development Bank with IsDB\u2019s plans. \u201cThe respective health teams will explore a joint pipeline in line with this pharmaceutical collaboration pipeline,\u201d she said.<\/p>\n

The teams will continue to meet monthly to review progress and share insights on proposed common projects. They also announced that they would hold a review meeting before December 2023 to assess the progress of sovereign and non-sovereign projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

African Development Bank Group (AfDB) and the Islamic Development Bank (IsDB) have signed an action plan for the development of the pharmaceutical industry sector within their African member countries. \u00a0The…<\/p>\n","protected":false},"author":1,"featured_media":3707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[76,80],"tags":[],"class_list":["post-3706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/regtechafrica.com\/healthcare\/wp-content\/uploads\/2023\/02\/01B950CA-F0A6-4FE9-949B-AEA37794B920.jpeg?fit=738%2C415&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/comments?post=3706"}],"version-history":[{"count":1,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3706\/revisions"}],"predecessor-version":[{"id":3708,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/3706\/revisions\/3708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media\/3707"}],"wp:attachment":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media?parent=3706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/categories?post=3706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/tags?post=3706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}