JEDDAH,
Kingdom of Saudi Arabia, November 3, 2020/ -- The Arab Bank for
Economic Development in Africa (BADEA) intensifies its partnership with
the International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-IDB.org)
to support African Countries to fight COVID-19 through a joint program
under the Arab Africa Trade Bridges (AATB). This took place during a
signing ceremony at the Headquarters of the International Islamic Trade
Finance Corporation (ITFC) between Eng. Hani Salem Sonbol, Chief
Executive Officer of ITFC and Dr. Sidi Ould Tah, BADEA’s Director
General.
The contribution of BADEA will help finance key
initiatives targeting the health and pharmaceutical sectors in Africa.
The collaboration also includes technical assistance which will be
provided within the framework of the recently announced initiative:
Harmonisation of Standards for Pharmaceutical and Medical Devices
co-launched by ITFC, Afreximbank and ARSO to promote the quality and
safety of medicines and medical devices imported or produced in Africa.
On
this occasion, Eng. Hani Salem Sonbol, CEO of ITFC commented on the
importance of this collaboration, that it is coming at the most needed
time for African countries. “COVID-19 had deeply impacted the region,
specially the health sector; and it is within the core mandate of the
AATB Program and working closer with partners we need to provide
critical life-saving support to our member countries who need immediate
help. We will work together with BADEA, who is a founding member of the
AATB Program and a constant supporter, in joint initiatives that will
also provide economic integration between African and Arab countries.”
From
his side, Dr. Sidi Ould Tah, Director General of BADEA also expressed
his continuous support to the AATB Program and commended the partnership
with ITFC specially at these critical times. He emphasized that
enhancing the capabilities of the healthcare facilities in Africa cannot
be overlooked anymore. “The AATB Program’s initiatives such as the
Harmonization of Standards of Pharmaceutical Products, business matching
activities that open trade and investment doors between Africa and the
Arab world have been indispensable to effectively respond to challenges
imposed by COVID-19 outbreak.”
It is worth mentioning that since
the outbreak of the pandemic, ITFC and its partners have approved an
AATB Program Action Plan to support African and Arab countries to
strengthen their socio-economic resilience in light of the COVID-19. The
healthcare and pharmaceutical sectors were prioritized, with immediate
measures including supporting the Network of Laboratories in West Africa
with the supply of COVID-19 testing kits, lab equipment and personal
protection equipment (PPE) for medical and para medical staff.
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