Ecobank links Global Fund to fight AIDS, tuberculosis, malaria
Ecobank and the Ecobank Foundation on Thursday announced a partnership with the Global Fund to fight AIDS, tuberculosis and malaria in innovative regional and country-specific financing programmes that will aim to strengthen the financial management capabilities of grant recipients.
The partnership included innovative financing, advocacy and cash contributions worth a total of $3m over the next three years.
According to a statement by the bank, Ecobank will also contribute to training in financial management skills, accounting and reporting to facilitate improved grant applications, as well as the implementation and evaluation proceshttp://www.punchng.com/wp-admin/post.php?post=152082&action=editses.
Ecobank is a pan-African financial institution that operates in 35 countries in Africa and embraces a mission of contributing to the economic and financial development of Africa.
Ecobank will contribute $1.5m in cash, and half will be earmarked for strengthening the financial management capabilities of implementing partners.
Additional contributions of in-kind services, training and fundraising by Ecobank will further cement the three-year partnership. The terms of the partnership can be extended for an additional two years upon expiry of the initial term.
The statement said the Group Head of Corporate Banking, Charles Kie, represented Ecobank during a launch reception in Washington DC.
The statement also quoted the Executive Director of the Global Fund, Mark Dybul, as saying, 'Ecobank is a natural partner for us with our work supporting programmes in sub-Sahara Africa. Ecobank's commitment to offer services to strengthen the financial management capabilities of implementers will help to facilitate the Global Fund's support for local outreach to the most vulnerable in Africa.'
The Chairman of the Ecobank Foundation, Philip Chikwuedo Asiodu, said, 'The health sector is a strategic priority for the foundation. Entering into this partnership will make a significant contribution to improving the wellbeing of all the African communities in which we work and live.
'Access to quality health care for all is vital to the growth and prosperity of Africa.'