Ecobank, Global Fund announce $3m African partnership

Ecobank and the Global Fund have announced an African partnership including innovative financing, advocacy and cash contributions worth $3 million over the next three years.

This is to help the Global Fund fight AIDS, tuberculosis and malaria in some African countries.

Ecobank who announced the move December 20, 2013 said through its Foundation it will contribute $1.5 million in cash, and half will be earmarked for strengthening the financial management capabilities of implementing partners.

The pan-African bank said it will also raise funds, offer financial training to further cement the three year partnership.

The terms of the partnership can be extended foran additional two years upon expiry of the initial term, Ecobank said in a statement.

Philip ChikwuedoAsiodu, Chairman of the Ecobank Foundation commented “The health sector is a strategic priority for the Foundation. Entering into this partnership will make a significant contribution to improving the well-being of all the African communities in which we work and live.”

According to Mr Mark Dybul, Executive Director of the Global Fund, Ecobank’s commitment to offer services to strengthen the financial management capabilities of implementers will help facilitate the Global Fund’s support for local outreach to the most vulnerable in Africa.

By Ekow Quandzie