Connect with us

Economy

African vaccine trust establishes compensation package

Published

on

  The African Vaccine Procurement Trust AVAT launched a No Fault Compensation Scheme NFCS program for COVID 19 vaccines in participating African and Caribbean countries in Abidjan C te d Ivoire on Tuesday According to him AVAT NFCS provides eligible individuals with prompt fair and transparent compensation for unlikely adverse events associated with COVID 19 vaccines purchased or distributed under the AVAT initiative The Nigerian News Agency reports that AVAT NFCS is the first such consortium to be created AVAT NFCS is powered by Union AU Afreximbank Africa CDC and the United Nations Economic Commission for Africa UNECA Other partners include ECONET and it will be managed by ESIS a wholly owned subsidiary of Chubb Insurance Company AVAT acts as a centralized purchasing agent on behalf of the AU Member States to secure the necessary vaccines and funding resources combined to achieve Africa s COVID 19 vaccination strategy It is designed to reinforce public confidence that in the unlikely event of vaccine related adverse events against COVID 19 quick and easy access to compensation is ensured Building this trust is essential to achieving widespread adoption of the vaccine Speaking on the sidelines of the event Prof Benedict Oramah President and Chairman of the Board of Directors of Afreximbank highlighted the functions and benefits of the scheme He said AVAT NFCS provides eligible individuals with prompt fair and transparent compensation for unlikely adverse events associated with COVID 19 vaccines purchased or distributed under the AVAT initiative It is a framework designed to support the vaccines delivered under the AVAT scheme The principle of the no fault compensation scheme is that both the manufacturers and the public and even individuals want to be protected because of the way that vaccines were developed very expeditiously It was not normal What would have taken five to seven years was done between one year and 18 months So it was important that a compensation scheme be put in place so that if serious adverse events did occur people would have a predictable way to receive compensation For Africa it was not easy with 55 countries and smaller economies It was becoming a challenge We had to work to put in place a continental framework that would make it possible for those who had not been able to do so to do so Without her they wouldn t have had access to vaccines in the first place According to Oramah the No Fault Compensation Scheme is specific to the AVAT acquisition of Johnson and Johnson Vaccines as it is today He said that however there was collaboration with the COVAX facility On the modalities to access compensation he said For this specific scheme for you to make a claim you must have been vaccinated under the AVAT vaccine framework That s when you qualify You must be a citizen of the country participating in this plan There are 41 countries participating in this scheme These are some of the preconditions for you to qualify to seek compensation For Nigeria Oramah said that with the Government s plans to make Johnson amp Johnson the priority vaccine because it is a single dose vaccine AVAT NFCS becomes eligible This would help their approach tremendously because it provides the government with the cover for the government to tell citizens that these vaccines are there that they take them and they are also protected because we don t have them in Nigeria People may want to know if something happens what should I do How am I compensated This provides the answer and also protects the government from possible litigation by citizens who get vaccinated because the government asks them to get vaccinated he said UNECA Executive Secretary Dr Vera Songwe who praised the initiative said the pandemic had led to loss of life and pushed 55 million people into extreme poverty According to her the pandemic has also exposed certain pre existing vulnerabilities reversing the slow progress towards improving well being and achieving Africa s 2030 and 2063 agendas It is in this context that AVAT is so important and a game changer for the continent at the forefront of the largest immunization operations of our time This is a centralized agent for negotiation purchases and payments on behalf of the member states of the African Union and the member states of CARICOM he said These member states are Antigua and Barbuda bahamas Barbados Belize Dominican Grenade Guiana Haiti Jamaica and Montserrat a British Overseas Territory in the Leeward Islands Others are Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Suriname and Trinidad and Tobago She said Africa has shown that when left alone it can come up with innovative solutions not only to save our health and lives but also to save our livelihoods And the African Union the African CDC the Afreximbank clinging to the leadership of the AU Special efforts have shown that Africa can when it wants Dr Ahmed Ouma deputy director of the African Center for Disease Control Africa CDC also praised the initiative This is really the first time that Africa has stepped up planned negotiated bought and distributed its own vaccines on this scale And it s something we should be proud of as Africans and use it as a springboard for us to do even more in the future he said According to him the African Vaccine Procurement Task Force has opened up a very important target for public health need It has opened a very important door for Africa to be able to do similar things in all the other sectors that we prioritize We appreciate the team and because Africa CDC is part of it it has been a learning experience Ouma said
African vaccine trust establishes compensation package

African Vaccine Procurement Trust

The African Vaccine Procurement Trust (AVAT) launched a No-Fault Compensation Scheme (NFCS) program for COVID-19 vaccines in participating African and Caribbean countries in Abidjan, Côte d’Ivoire on Tuesday.

inkybee naija news hausa

According to him, AVAT NFCS provides eligible individuals with prompt, fair and transparent compensation for unlikely adverse events associated with COVID-19 vaccines purchased or distributed under the AVAT initiative.

naija news hausa

AVAT NFCS

The Nigerian News Agency reports that AVAT NFCS is the first such consortium to be created.

naija news hausa

AVAT NFCS

AVAT NFCS is powered by Union(AU), Afreximbank, Africa CDC and the United Nations Economic Commission for Africa (UNECA).

Chubb Insurance Company

Other partners include ECONET and it will be managed by ESIS, a wholly owned subsidiary of Chubb Insurance Company.

Member States

AVAT acts as a centralized purchasing agent on behalf of the AU Member States, to secure the necessary vaccines and funding resources combined to achieve Africa’s COVID-19 vaccination strategy.

It is designed to reinforce public confidence that, in the unlikely event of vaccine-related adverse events against COVID-19, quick and easy access to compensation is ensured.

Building this trust is essential to achieving widespread adoption of the vaccine.

Benedict Oramah

Speaking on the sidelines of the event, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, highlighted the functions and benefits of the scheme.

AVAT NFCS

He said: “AVAT NFCS provides eligible individuals with prompt, fair and transparent compensation for unlikely adverse events associated with COVID-19 vaccines purchased or distributed under the AVAT initiative.

“It is a framework designed to support the vaccines delivered under the AVAT scheme.

“The principle of the no-fault compensation scheme is that both the manufacturers and the public and even individuals want to be protected because of the way that vaccines were developed very expeditiously.

“It was not normal. What would have taken five to seven years was done between one year and 18 months.

“So it was important that a compensation scheme be put in place, so that if serious adverse events did occur, people would have a predictable way to receive compensation.

For Africa

“For Africa, it was not easy with 55 countries and smaller economies. It was becoming a challenge.

“We had to work to put in place a continental framework that would make it possible for those who had not been able to do so to do so. Without her, they wouldn’t have had access to vaccines in the first place.”

No-Fault Compensation Scheme

According to Oramah, the No-Fault Compensation Scheme is specific to the AVAT acquisition of Johnson and Johnson Vaccines as it is today.

He said that, however, there was collaboration with the COVAX facility.

On the modalities to access compensation, he said: “For this specific scheme, for you to make a claim, you must have been vaccinated under the AVAT vaccine framework.

“That’s when you qualify; You must be a citizen of the country participating in this plan.

“There are 41 countries participating in this scheme. These are some of the preconditions for you to qualify to seek compensation.”

For Nigeria

For Nigeria, Oramah said that with the Government’s plans to make Johnson & Johnson the priority vaccine because it is a single dose vaccine, AVAT NFCS becomes eligible.

“This would help their approach tremendously because it provides the government with the cover for the government to tell citizens that these vaccines are there, that they take them, and they are also protected because we don’t have them in Nigeria.

“People may want to know, if something happens, what should I do? How am I compensated?

“This provides the answer and also protects the government from possible litigation by citizens who get vaccinated because the government asks them to get vaccinated,” he said.

UNECA Executive Secretary Dr

UNECA Executive Secretary Dr. Vera Songwe, who praised the initiative, said the pandemic had led to loss of life and pushed 55 million people into extreme poverty.

According to her, the pandemic has also exposed certain pre-existing vulnerabilities, reversing the slow progress towards improving well-being and achieving Africa’s 2030 and 2063 agendas.

“It is in this context that AVAT is so important and a game changer for the continent at the forefront of the largest immunization operations of our time.

African Union

“This is a centralized agent for negotiation, purchases and payments on behalf of the member states of the African Union and the member states of CARICOM,” he said.

Antigua and Barbuda

These member states are Antigua and Barbuda; bahamas; Barbados; Belize; Dominican; Grenade; Guiana; Haiti; Jamaica; and Montserrat (a British Overseas Territory in the Leeward Islands).

Saint Kitts and Nevis

Others are Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

She said: “Africa has shown that when left alone, it can come up with innovative solutions, not only to save our health and lives, but also to save our livelihoods.

African Union

“And the African Union, the African CDC, the Afreximbank clinging to the leadership of the AU. Special efforts have shown that Africa can when it wants.”

Ahmed Ouma

Dr. Ahmed Ouma, deputy director of the African Center for Disease Control (Africa CDC) also praised the initiative.

“This is really the first time that Africa has stepped up, planned, negotiated, bought and distributed its own vaccines on this scale.

“And it’s something we should be proud of as Africans, and use it as a springboard for us to do even more in the future,” he said.

African Vaccine Procurement Task Force

According to him, the African Vaccine Procurement Task Force has opened up a very important target for public health need.

“It has opened a very important door for Africa to be able to do similar things in all the other sectors that we prioritize.

Africa CDC

“We appreciate the team and because Africa CDC is part of it, it has been a learning experience,” Ouma said.

bet9ja booking code karin magana facebook link shortner Kickstarter downloader