Afreximbank provides $100 million overdraft facility for African states


African Export-Import Bank (Afreximbank), announced $100 million financing to enable its Member States to procure COVID-19 related medical resources through the Africa Medical Supplies Platform (AMSP).
The funding is available to African governments to acquire medical supplies through the AMSP in the form of pre-approved overdraft limits for each African government. This facility quickens access to critical COVID-19 containment and therapeutic supplies by bridging short term funding gaps that African states may be experiencing.
Launched in June, the AMSP was developed by the African Union’s Africa Centres for Disease Control and Prevention (Africa CDC), Afreximbank and the United Nations Economic Commission for Africa (ECA), under the leadership of the African Union Special Envoy for COVID-19 procurements, Mr. Strive Masiyiwa. The AMSP is operated by the technology firm Janngo. It was established to facilitate pooled and transparent procurement by African countries. Its services have now been made available to countries of the Caribbean Community (CARICOM).