For Immediate Release
Office of Press Relations
press@usaid.gov

Wednesday, December 14, 2022

Today, throughout the U.S.-Africa Leaders Summit in Washington D.C., the U.S. Agency for International Development (USAID) and the U.S. International Development Finance Corporation (DFC) introduced the Transform Health Fund for healthcare options in sub-Saharan Africa, a brand new primarily women-led collaboration. USAID and DFC plan to offer $1 million in catalytic grant funding and $10 million in fairness financing, respectively, to the fund to help locally-led provide chain transformation, modern care supply, and digital options to safe Africa’s healthcare future. With these investments, the Fund introduced complete permitted commitments is now $50 million.

Africa is residence to 16 % of the worldwide inhabitants and 23 % of the worldwide burden of illness. Yet, only one % of worldwide affect funding capital goes in direction of healthcare in sub-Saharan Africa. The Transform Health Fund brings collectively authorities, donor, and business traders to assist cut back that well being financing hole and scale modern options to Africa’s best healthcare challenges.

Public and personal sector companions will come collectively beneath AfricInvest’s administration to finance enterprises that enhance well being system resilience and pandemic preparedness throughout the continent. USAID additionally plans to offer technical help to a subset of the Fund’s investee firms by way of its flagship public-private partnership, Project Last Mile.

A key goal of the Transform Health Fund is to construct a resilient healthcare ecosystem by investing in and scaling locally-led improvements that enhance entry to high quality and inexpensive care and provides for essentially the most weak populations in sub-Saharan Africa. Recognizing the significance of girls’s management in enhancing well being safety throughout Africa, the Fund will prioritize supporting girls’s well being companies and investing in women-owned and led companies. AfricInvest can be a signatory of the 2X Challenge, dedicated to good gender practices in recruitment, development, promotion, and succession planning.