Afreximbank calls on African governments to mobilise around AVAT compensation initiative
Abidjan, Cote d’Ivoire (PANA)- Professor Benedict Oramah, Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), on Tuesday called on African governments to mobilize around the African Vaccine Acquisition Trust No-Fault Scheme (AVAT-NFCS) partly funded by his bank.
"We urge several governments to join and support the initiative to enable the continent to move towards 70% immunization coverage of the population by the end of 2022," Prof. Oramah said, lamenting the very low rate of access to vaccines that had exposed Africa to devastating waves of COVID-19.
The AVAT NFCS continental initiative has already enabled about 30 countries to have access to vaccines and populations to be vaccinated in peace, he said.
"This major step forward in Africa's efforts to protect the health and well-being of its population was made possible thanks to an envelope of 2 billion USD provided by the African Export-Import Bank (Afreximbank) and 500 million USD from Master Card for the acquisition of vaccines."
Launched on Tuesday in Abidjan by AVAT, the no-fault compensation programme for COVID-19 vaccines in participating countries in Africa and the Caribbean provides eligible individuals with prompt, fair and transparent compensation for unlikely adverse events associated with COVID-19 vaccines purchased or distributed under the AVAT initiative.
The first programme of its kind created by an African consortium, it is designed to build public confidence that, in the unlikely event of adverse events associated with COVID-19 vaccination, quick and easy access to compensation is guaranteed.
A central pillar of AVAT's broader vaccine delivery strategy, the system, which was put in place in record time, provides a no-fault lump sum payment in full and final settlement of any claim for compensation to people who have suffered harm as a result of a vaccine or its administration, without patients having to demonstrate a defect in the vaccine in question or any fault on the part of anyone else.
Developed to maximize ease of use and accessibility, with the option of a digital claims channel and a user-friendly interface via a dedicated web portal, it applies to all vaccines purchased or distributed under the AVAT initiative.
AVAT's main partner institutions are the African Centres for Disease Control and Prevention (CDC Africa), African Union, African Export-Import Bank (Afreximbank) and the United Nations Economic Commission for Africa.
-0- PANA IT/IS/SOC/BBA/RA 23March2022
