Spain’s Debt Swap Applications Have Improved Well being Indicators in Cameroon, Ethiopia and DRC
06 November 2023
In 2017, Spain, along with the International Fund to Battle AIDS, Tuberculosis and Malaria, signed debt swap applications with Cameroon, Ethiopia and the Democratic Republic of the Congo (DRC) to assist human growth and the advance of well being indicators in these African nations. These applications kind a part of the International Fund’s Debt2Health program [ download in English | Español | Français ] .
The Debt2Health program converts debt repayments into lifesaving investments in well being. Beneath individually negotiated “debt swap” agreements, an implementing nation agrees to put money into applications to struggle the three ailments or strengthen well being programs by means of the International Fund. In return, a creditor nation cancels debt owed by the implementing nation.
On 29 September 2023, Spain introduced it had efficiently closed the debt swap applications signed with Cameroon, Ethiopia and the DRC, which have led to enhancements in well being indicators within the three nations.
This system signed with Cameroon has led to the cancellation by Spain of money owed amounting to €9.2 million and US$16.7 million. In return for the debt reduction, Cameroon made a contribution of €9.3 million to the International Fund, which has been earmarked for the struggle in opposition to AIDS. Program funds have enabled a complete of 30,000 individuals to obtain antiretroviral remedy, and along with extra assets mobilized by the International Fund, have helped elevate the remedy protection fee for individuals residing with this illness from 50% to 70%.
Within the case of Ethiopia, this system has concerned the cancellation by Spain of a debt of US$8.7 million. In return, Ethiopia made a contribution of €3.2 million to the International Fund, which has been allotted to the struggle in opposition to AIDS, tuberculosis and malaria. Program funds have contributed to the prognosis and remedy of greater than 4,800 instances of multidrug-resistant tuberculosis, and elevated entry to HIV testing with the intention of attaining 90% viral suppression amongst HIV-positive individuals at present receiving antiretroviral remedy. As well as, investments in laboratory tools have improved total well being care supply by means of higher entry to anatomic pathology, biochemistry and microbiology companies.
As for this system signed with the DRC, Spain canceled US$8.3 million in debt reduction. In return, the DRC made a contribution equal to US$3.4 million to the International Fund, which has been earmarked for the struggle in opposition to malaria within the nation. This system funds have enabled the distribution of two.2 million long-lasting insecticide-treated mosquito nets within the province of Tschopo within the northeast of the nation. This system has additionally contributed to a 52.3% discount in malaria mortality within the DRC, which, since 2015, has had one of many highest malaria mortality charges on this planet.
