World Bank approves $474 million loan to South Africa for COVID vaccines

The World Bank has approved a loan of 454.4 million euros ($474.4 million) to help South Africa fund COVID-19 vaccine purchases, the bank and South Africa's National Treasury said in a statement. South Africa has recorded the most coronavirus cases and deaths on the African continent, with over 3.9 million confirmed cases and more than 101,000 deaths. It initially struggled to secure vaccines due to limited supplies and protracted negotiations, but it is now well-supplied with doses.