By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: World Bank Gives $120m For Kenya’s Vaccine Facility
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > Business > World Bank Gives $120m For Kenya’s Vaccine Facility
BusinessNewsPolitics

World Bank Gives $120m For Kenya’s Vaccine Facility

hallanaija
Last updated: February 9, 2024 10:35 am
hallanaija 1 year ago
Share
SHARE

The World Bank has committed $120 million (Ksh19.1 billion at current exchange rates) to fund Kenya’s vaccine production facility, which is expected to start operations in 2029.

Health Principal Secretary (PS) Harry Kimutai disclosed the funding when he accompanied the World Bank Vice President for Human Development Mamta Murthi on her tour of the facility in Embakasi in Nairobi on Wednesday.

Kenya BioVax Institute is setting up the facility and it is expected to release the first batch of the locally packaged (filling and packaging imported vaccines) critical commodity for health in the next five years.

The facility will have two filling lines, which the agency says will have the capacity to meet Kenya’s annual vaccine demand forecast at 16 million and expected to hit 25 million vaccines on account of a growing population.

“World Bank is giving us $120 million for this facility. They are one of the biggest supporters of our journey to vaccine production,” said Mr Kimutai.

The PS did not disclose the type of funding, though the billions further cement the World Bank’s position as a key financier of Kenya’s development agenda with the projects spread across different sectors from health, roads, and energy.

READ MORE  You'll still pay for a house even after contributing housing levy: CS Wahome

The World Bank supports development projects through loans and grants, offering advisory or technical support to build the capacities of the concerned agencies.

“We are happy that Kenya is moving forward in actualising its dream of vaccine production and is using the right strategy of a phased approach,” said Ms Murthi during the visit.

“We are happy to partner and support Kenya in the development of vaccines and the market, both locally and at regional level.”

The facility will see Kenya keep pace with South Africa and Senegal is locally producing vaccines for both local and regional markets.

World Bank’s funding is critical to helping set up the facility and help Kenya avoid a potential crisis in the looming exit of the country’s main vaccine donor and immunisation financier, the Global Alliance for Vaccines and Immunisation (Gavi).

Gavi extended the support by two years to 2029 from the initial deadline of 2027, a move that is meant to allow Kenya Biovax Institute to build its capacity to start locally formulating and increasing volumes of imported vaccines, ready for use.

READ MORE  Parents struggle with high costs as schools reopen for second term

Kenya spends an estimated Ksh36 billion ($225 million) every year on immunisation with Gavi and Unicef footing 88 percent or Ksh27 billion ($168.8 million) while the Exchequer provides the rest.

Health experts have warned that Kenya needs to fast-track the facility to ensure that Kenya is not plunged into a crisis in the supply of vaccines by the time Gavi exits.

You Might Also Like

Roam opens a 50,000 electric bike assembly plant in Kenya

90 percent of Kenyans reject Finance Bill 2023

Maseno University Student shot dead during Azimio protest

‘Not Every Parent Pays Fees With Chicken,’ Kamukunji MP Argues

Dealers want a piece of Kenya’s power meter monopoly, which is being challenged.

Share This Article
Facebook Twitter Email Print
Previous Article Babu Owino slams Ruto for ‘neglecting gas explosion victims’
Next Article US To Invest In Rail Project Linking Southern Africa Mines To Angola Port
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • High Court declines to refer Kenya’s abduction cases to ICC
  • Court orders State to produce arrested businessman Phillip Aroko
  • Kisumu: Man sentenced to life in prison for defiling two-year-old girl
  • Pride and praise in Peru for Pope Leo who left lasting impression
  • “Y’all can’t stand how hard I step?” – Rapper, Cardi B fires back after edited photos spark backlash

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?