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African Export-Import Bank (Afreximbank) and the Africa Centres for Disease Control and Prevention (Africa CDC) have announced a new collaboration for health and pharmaceutical products manufacturing in Africa.

Under the partnership, Afreximbank has committed a $2 billion facility to the Africa Health Security Investment Plan (AHSIP) to support the health product manufacturing ambition of the continent. This initiative will focus on the African Pooled Procurement Mechanism, and the Platform for Harmonized African Health Products Manufacturing.

Also, the investment aims to complement GAVI's financing mechanism, the African Vaccine Manufacturing Accelerator, which is set to provide up to $2 billion financing to African manufacturers of health and pharmaceutical products over the next 10 years.

In a joint statement by Afreximbank and Africa CDC, they said the AHSIP will allow the trade financier to support and finance key health projects identified by the public health agency. The joint effort will combine institutional and financial resources, financial tools such as equity and debt financing, guarantees, venture capital, capacity building, and risk-sharing to boost and attract more health investments in Africa.