By InvestAdvocate
Lagos (INVESTADVOCATE)-Ecobank on Thursday said it’s partnering The Global Funds in the fight against HIV/AIDS, Malaria and Tuberculosis (TB) pledging the sum of $3.0 million to that effect.
A statement from Ecobank says the program is designed to strengthen the financial management skills of program implementers in Nigeria, South Sudan and Senegal.
It said during the second phase of the program, which officially kicked off in Abuja yesterday, six (6) Non-Governmental Organisations (NGOs) who battle TB and HIV/AIDS in Nigeria will receive extensive onsite training over the next twelve weeks.
“This unique partnership demonstrates the commitment of African institutions like Ecobank using their own resources and knowledge to make a significant contribution to the sustainable development across Africa,” said Julie Essiam, Head of HR, and CEO of the Ecobank Foundation.
“Aligned to our vision & mission to develop Africa, at Ecobank, we help develop the communities we serve,” Essiam added.
The statement affirmed that technical training will be delivered by Ecobank Nigeria and through the placement of Accounting for International Development (AfID) consultants, who are all members of the Nigerian Diaspora taking time off to volunteer on this specific project.
“The Global Fund sets up innovative partnerships with private sector partners in order to roll out game-changing strategies to reach all those who are vulnerable to AIDS, TB and malaria. There are enormous benefits to working with a partner like Ecobank, who can bring valuable expertise to the programs, as well as to the Global Fund itself”, added Andrew Redpath, Private Sector Portfolio Relationship Manager at The Global Fund.
“The partnership projects are expected to have a long-lasting effect. Training of the NGOs not only strengthens financial stewardship of Global Fund grants; it will also improve transparency and accountability for the use of public funds and grants from other donors,” the Ecobank said.
It further affirmed that the impact of the programme has already been recognised as over 80 people working for 10 grant recipients in Nigeria and South Sudan were trained during the first phase of the project last year. The Global Fund country teams have already noticed first-hand that grants implementation has become more efficient.
The Global Fund founded in 2002 is a 21st-century organisation designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics. It raised and invested nearly $4.0 billion yearly to support programs run by local experts in countries and communities most in need.
At the close of today’s trading on the Nigerian bourse, shares of Ecobank inched up 1.49 percent to N17.66 from N17.40 traded the previous day; gaining 0.26 kobo per share.
