President of the African Development Bank (AFDB) Akinwumi Adesina has expressed that the continent needs to start producing and not beg for COVID-19 vaccines.
Adesina stated this during the opening ceremony of the 2021 meetings of the African Development Bank (AfDB) on Wednesday.
The AfDB president expressed that the coronavirus pandemic impacted African economies negatively as countries are estimated to lose between $145 billion and $190 billion in the gross domestic product (GDP).
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“The effects of the pandemic on the continent’s economy have been massive. Africa’s stimulated GDP losses are estimated between $145 billion and $190 billion,” he said.
“Africa will need a lot of resources to support its recovery. Real income sub-Saharan African countries alone will need $245 billion by 2030, while all sub-Saharan African countries will need $425 billion by 2030.
“And the challenge of development just got even harder as 30 million people fell into extreme poverty, and an estimated 39 million people could fall into poverty by the end of 2021.”