(Ecofin Agency) - The Economic Community of West African States (ECOWAS) announced it will set up an undisclosed revolving fund to secure a total of 240 million doses of Covid-19 vaccine. The information was reported following the 58th Ordinary Session of the ECOWAS Authority of Heads of State and Government.

The launch of this fund comes at a time when countries around the world are rushing to get vaccines, with African countries lagging. With almost 304,000 cases of Covid-19 for 3,836 deaths and 259,975 recoveries, West Africa is the fourth hardest hit region in Africa. In recent days, Côte d'Ivoire and Nigeria have expressed ambitions to engage in negotiations with international vaccine suppliers, not only as part of the WHO-led Covax initiative but also under nationwide strategies.

 "This fund will be used to ensure the availability of covid vaccines in the region through common supply in the short term and regional manufacturing in the medium to long term," the statement said, calling for contributions from "national governments, development banks, the private sector and partners.”

In addition to the fund, ECOWAS authorities announced the establishment of a tariff for covid tests in the region. According to this decision, ECOWAS citizens will not have to pay more than $50 (CFA27,000) to obtain covid-19 PCR tests when traveling within the community space.

 This measure aligns with ECOWAS harmonized protocol on the cross-border movement of persons and goods during the pandemic. This protocol aims to regulate the movement of people from one country to another within the community space, while harmonizing the new regulations of countries on the fight against the coronavirus.

Member countries have until June 2021 to start vaccinations.

Moutiou Adjibi Nourou