The United States has launched an initiative that seeks to increase financing for Ethiopian health facilities catering to people living with HIV/AIDS.
The initiative is a partnership between USAID’s Development Credit Authority and the Office of the U.S. Global AIDS Coordinator under the State Department. It will use $2.3 million of the department’s AIDS funding to back partial credit guarantees to local banks, which will in turn spur $13.5 million in capital for health care providers in Ethiopia, according to USAID.
“This agreement is a historic initiative and an outstanding example of U.S. Government cooperation that will produce meaningful results in the fight against HIV/AIDS,” USAID administrator Rajiv Shah said in a July 27 news release. “By validating the strength of borrowers in the health sector, private financial institutions can make smart investments that will ultimately save more lives while sustaining country-led development and innovation.”
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