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The World Bank has approved a loan of $474.4million to help South Africa fund COVID-19 vaccine purchases.
Director-General of the Country’s Treasury, Ismail Momoniat, who disclosed this said the loan would aid the procurement of 47 million COVID-19 vaccine doses.
According to Momoniat, the loan is part of government efforts to cut debt-service costs in its response to the pandemic.
South Africa has recorded the most coronavirus cases and deaths on the African continent, with more than 3.9 million confirmed cases and more than 101,000 deaths.
