Extra Covid Jabs To Be Financed By The World Bank For Poorer Nations

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Extra Covid Jabs To Be Financed By The World Bank For Poorer Nations

The World Bank said Monday that a new financing mechanism will allow developing nations to purchase Covid-19 vaccines in bulk through the Covax facility.

Covax was created to ensure that 92 developing countries had access to coronavirus vaccines in order to combat the pandemic, with the cost of the vaccines being funded by donors.

The new method will allow those countries to purchase additional doses in addition to the ones they will receive through Covax.

The facility says it will make advanced purchases from vaccine manufacturers based on aggregated demand across nations, using money from the World Bank and other development institutions.

Up to 430 million more vaccine doses, or enough to fully vaccinate 250 million people, would be available for delivery between late 2021 and mid-2022 under the World Bank financing arrangement for the 92 countries that now get their vaccine doses funded by donors.

Countries should also have some leeway in deciding which vaccines to purchase based on their preferences.

The World Health Organization (WHO), the Gavi Vaccine Alliance, and the Coalition for Epidemic Preparedness Innovations are collaborating on Covax.

Gavi chief executive Seth Berkley stated in a statement that the finance method “will allow Covax to unlock additional doses for low- and middle-income countries.”

“As we move beyond early targets and work to support nations’ efforts to safeguard ever-larger segments of their populations, World Bank financing will help us come closer to our goal of controlling Covid-19.”

The World Health Organization (WHO) has decried the massive inequity in the global distribution of Covid-19 vaccination doses.

According to an AFP count, about 3.9 billion doses of Covid-19 vaccine had been administered in at least 216 countries throughout the world.

According to the World Bank, 95.4 doses per 100 people have been delivered in high-income nations.

In the 29 lowest-income countries, this figure is just 1.5 doses per 100 people.

Covax has so far supplied about 138 million vaccine doses to 136 member regions, falling far short of its goal.

According to World Bank President David Malpass, “access to vaccines remains the single greatest barrier that developing countries face.”

“Through this method, additional supplies will be made available, and countries will be able to purchase vaccines more quickly. It will also make vaccination availability, costs, and delivery timetables transparent.”

The World Bank said that it will provide $20 billion in finance to developing nations to assist them purchase and distribute vaccines, with 53 countries so far benefiting.

Many countries have expressed an interest, according to the Washington-based development lender. Brief News from Washington Newsday.

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