Africa Financing Summit in Paris - Vaccines, funding, oda tins about di summit wey Macron host

Di African financing summit wey French President Emmanuel Macron host African leaders and global financial institution for Paris don end.

Tori be say di koko of di summit na provide di continent wit financial support sake of di impact COVID-19.

Na 24 African heads of state na im attend di Tuesday summit for Paris, dis na of di biggest in-person top-level meetings wey dem go hold during di pandemic.

Some of di ogbonge pipo wey attend na International financial leaders di likes of, International Monetary Fund (IMF) chief Kristalina Georgieva as well as World Bank managing director of operations Axel van Trotsenburg.

See three key highlights from di Africa Financing Summit for Paris.

France promise to borrow Sudan $1.5bn

French goment tok say dem go borrow Sudan $1.5bn to help di kontri to pay off dia arrears to di International Monetary Fund.

Dis fit pave di way for di kontri $50bn external debt to dey forgiven under di IMF and World Bank Highly Indebted Poor kontries scheme.

Sudan just dey come out from decades of economic sanctions and isolation under former President Omar al-Bashir wey dem remove from sake of protests two years ago.

New deal with Africa

Macron say di summit agree to work towards getting rich nations to reallocate $100 billion from di International Monetary Fund (IMF) special drawing rights monetary reserves to African states by October.

IMF Managing Director Kristalina Georgieva bin confam say di organization go issue $33 billion for di African continent dis year in special drawing rights, one foreign exchange tool wey dem dey use to help finance imports.

Di summit aim na to triple that amount.

Vaccines

On di issue of vaccine Macron and oda leaders plan na to double COVID-19 vaccination targets for Africa by di end of 2021 under di COVAX vaccine-sharing scheme.

Dia plan na to persuade International Monetary Fund member states to triple so-called special drawing rights monetary reserves for Africa to $100 billion; wey go enable Africa to produce and distribute COVID-19 shots at home.