Nigeria will get $400 mln in World Financial institution financing for COVID-19

LAGOS, Oct 1 (Reuters) – Nigeria acquired approval on Friday for $400 million in World Financial institution financing to obtain and deploy COVID-19 vaccinations, the financial institution mentioned in a press release.

The World Financial institution board of administrators signed off on the financing, offered by way of the Worldwide Growth Affiliation, which it mentioned would allow Africa’s most populous nation to buy COVID-19 vaccines for 40 million individuals, some 18% of its inhabitants, and assist vaccine deployment to 110 million individuals.

In a press release, the financial institution mentioned the cash would be certain that the federal government can vaccinate 51% of its inhabitants inside two years and “keep away from the dreadful penalties of one other lockdown that left in its wake an financial toll the nation remains to be grappling with.”

The federal government final month mentioned that round 20% of employees in Nigeria had misplaced their jobs because of COVID-19. learn extra

Nigeria has administered some 5 million vaccine doses to its 200 million residents, and is within the midst of deploying hundreds of thousands extra doses of Moderna and AstraZeneca photographs acquired by the COVAX scheme geared toward offering vaccines to creating international locations.

It additionally has 1.12 million doses of the Johnson & Johnson (JNJ.N) vaccine that it bought by an African Union programme and can be scheduled to obtain 7.7 million doses of the Sinopharm vaccine by way of COVAX. learn extra

As of Oct. 1, Nigeria had recorded 205,779 confirmed instances of COVID-19 and a pair of,721 deaths from the virus.

Reporting By Libby George in Lagos and Camillus Eboh in Abuja, Modifying by Nick Zieminski

Our Requirements: The Thomson Reuters Belief Rules.

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