Ecobank and the Global Fund Launch Partnership
19 December 2013
LOMÉ, Togo – Ecobank and the Global Fund announced a partnership that includes innovative financing, advocacy and cash contributions worth a total of US$3 million over the next three years.
Ecobank and the Ecobank Foundation will partner with the Global Fund in innovative regional and country specific financing programs that will aim to strengthen the financial management capabilities of grant recipients. Ecobank will also contribute training in financial management skills, accounting and reporting expected to facilitate improved grant applications, as well as the implementation and evaluation processes.
Ecobank is a leading 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 provide advocacy for the Global Fund, and call on the innovative capabilities of its partners and over 18,000 employees.
Ecobank will contribute US$1.5 million 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 partnership. The terms of the partnership could be extended for an additional two years.
Charles Kie, Group Head of Corporate Banking, represented Ecobank at a reception in Washington D.C. on 2 December during the launch of the Global Fund’s Fourth Replenishment.
Mark Dybul, Executive Director of the Global Fund, observed: “Ecobank is a natural partner for us with our work supporting programs in sub-Saharan Africa. 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.”
Philip Chikwuedo Asiodu, Chairman of the Ecobank Foundation, further 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.”
“Access to quality healthcare for all is vital to the growth and prosperity of Africa,” concluded Mr. Kie. “As an institution committed to the sustainable development of the Continent, Ecobank shares many of the Global Fund’s objectives and we are proud to be partnering with the Global Fund in combating these three diseases throughout Africa.”