$25 billion for vaccines
WASHINGTON - The World Bank’s board of executive directors yesterday approved an envelope of $US12 billion ($F25.50 billion) for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens.
The financing, which aims to support vaccination of up to a billion people, is part of an overall World Bank Group (WBG) package of up to $US160 billion ($F339.95 billion) through June 2021 to help developing countries fight the COVID-19 pandemic. It adds new financing to the World Bank’s COVID-19 emergency response programs that are already reaching 111 countries.
This financing package helps signal to the research and pharmaceutical industry that citizens in developing countries also need access to safe and effective COVID-19 vaccines.
It will also provide financing and technical support so that developing countries can prepare for deploying vaccines at scale, in co-ordination with international partners.
“We are extending and expanding our fasttrack approach to address the COVID emergency so that developing countries have fair and equal access to vaccines,” said World Bank Group president David Malpass.
“Access to safe and effective vaccines and strengthened delivery systems is key to alter the course of the pandemic and help countries experiencing catastrophic economic and fiscal impacts move toward a resilient recovery.”
Developing countries will have different ways to acquire and deliver approved vaccines. The approach draws on the WBG’s significant expertise in supporting large scale immunisation programs for vaccine preventable diseases, as well as public health programs to tackle infectious diseases such as HIV, tuberculosis, malaria and neglected tropical diseases.