Dakar, Senegal, March 23, 2022—IFC and vaccine maker Institut Pasteur de Dakar (IPD) today deepened their partnership to develop a regional manufacturing facility in Senegal that will produce COVID-19 and other vaccines for use in Africa.
The new facility is expected to cost up to $222 million and will be funded through a mix of public, grant and private financing. During his official visit to Senegal, IFC's Managing Director Makhtar Diop signed a mandate letter with IPD to support the Institute to raise financing for the project.
The facility will significantly increase the vaccine manufacturing capacity of IPD, which has been producing yellow fever vaccines for 80 years, allowing it to expand production to COVID-19 vaccines initially followed by other vaccines in the medium term. At peak capacity, IPD's new plant is expected to produce up to 300 million doses of COVID-19 and other vaccines annually for use in Africa.
"IFC is pleased to collaborate with IPD and the government of Senegal to scale up the manufacturing of vaccines in Africa for Africa," said Makhtar Diop, IFC's Managing Director. "The COVID-19 pandemic has taught us how risky it is to rely on the rest of the world for essential goods and services. IFC is committed to helping African nations build their manufacturing capacity, in particular for vaccines."
"IFC is a welcome and critical partner for IPD as we address the deep vaccine inequity that persists in Africa," said Dr. Amadou Sall, the Director of IPD. "Together with other funders and collaborators, IPD will accelerate its commitment to produce vaccines that protect against COVID-19 and other diseases that threaten public health in Africa."
Vaccine inequality continues to plague the continent with just about 15 percent of the African population fully vaccinated against COVID-19, according to the African Union and the African Centers for Disease Control and Prevention (Africa CDC).
Africa relies heavily on other countries to fulfill its routine vaccine needs, importing 99 percent of vaccines. The Africa CDC has an ambitious objective to have 60 percent of routine vaccines used on the continent produced locally by 2040.
The Africa CDC has identified Senegal as one of the key regional vaccine manufacturing hubs in Africa.
The World Bank Group has been scaling up support to countries to produce, acquire and deliver vaccines to more people. As part of its Global Health Platform, which was created in July 2020 at the height of the COVID-19 pandemic, IFC is working with the private sector to expand vaccine production in developing countries, particularly in Africa.
Along with other development partners, IFC provided grant funding and project development support to IPD in July to help kick start the new vaccine manufacturing hub. IFC has also provided a €600 million joint financing package with other partners to Aspen Pharmacare Holdings Limited, a leading pharmaceutical company based in South Africa which is playing a major role producing COVID-19 treatment therapies and vaccines on the continent, and has partnered with South Africa's Biovac to support its vaccine manufacturing expansion.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
The Institut Pasteur de Dakar (IPD) is a non-profit public interest foundation located in Senegal with the mission to contribute to public health and well-being in Senegal and Africa by conducting research, providing training and education, sharing scientific knowledge, and advancing vaccine production. Since its founding in 1896, IPD has been at the forefront of the fight against infectious diseases in West Africa. IPD is one of the four WHO prequalified manufacturers to supply yellow fever vaccines to UN's Agencies, with the capacity to produce between 5 and 8 million yellow fever vaccine doses a year.
Follow IPD via @PasteurDakar and LinkedIn.