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Rwanda decided to host the African Pharmaceutical Technology Foundation (APTF) in collaboration with the African Development Bank (AfDB) and the European Investment Bank (EIB), according to a statement on Monday.
The new foundation, backed by the AfDB group, seeks $3 billion over 10 years for medicine production. This aligns with its efforts to industrialise Africa and lessen the continent’s reliance on imports.
The Foundation’s work will be central to Africa’s pharmaceutical sector. It is the first of its kind to foster collaboration between the public and private sectors in Africa, North America, Europe and the rest of the developing world.
