Team Europe presents Africa with new healthcare financing platform, SHIRA

In a bid to accentuate the conditions of healthcare funding and technical support in the African economies, a European team has stepped up to introduce a new healthcare financing platform to help political as well as development finance partners to strengthen and coordinate health security and resilience in the region.

The platform, which would potentially be known as Sustainable Healthcare Industry for Resilience in Africa (SHIRA), has been brought to the continent by President of the European Commission, Ursula von der Leyen in partnership with President of the European Investment Bank, Werner Hoyer.

For the record, the novel SHIRA platform was introduced at the Global Health Summit on Monday in Rome, alongside other Team Europe initiatives to bolster vaccine production, health technology, and medicine production in the African countries.

Reports suggest that SHIRA is likely to support wider Team Europe engagement by mobilizing private sector investment. This can be done by offering long-term funding to the sector in an effort to scale up investments in medical research, treatment facilities, diagnostic, and local healthcare supply chains.

Under the new alliance, the European Development Finance Institutions, European Investment Bank, and other African and international partners will mobilize funding for new investment required to augment access to affordable healthcare.

Meanwhile, they will also be sharing technical best-practice to address healthcare weaknesses highlights by ongoing coronavirus pandemic situation.

Commenting on the recent initiative, President of the European Commission, Ursula von der Leyen cited that both Africa and Europe stand together to fight against COVID-19 and also to strengthen health resilience in the future.

Ursula added that the new platform is anticipated to support the Team Europe Initiative on producing and providing access to medicines, vaccines, and health technologies in the region.

On the other hand, President of the European Investment Bank, Werner Hoyer mentioned that the organization boasts of an exceptional technical and financial experience in supporting vaccine development, innovation, and public health around the globe.

Mr. Hoyer further exclaimed that the new scheme would evidently scale up the healthcare resilience in Africa providing a clear view to work with European, African, and international partners.

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