n Monday, the World Bank and the COVAX global vaccine distribution program revealed a funding option to accelerate the delivery of doses to developing countries, where COVID-19 immunization rates trail considerably behind those of wealthy nations. The new method enables COVAX to make advance purchases from vaccine producers at more competitive rates based on aggregated demand across nations, with funding from the World Bank and other multilateral development institutions.
“Access to vaccinations remains the single largest barrier that poor countries confront in safeguarding their people against the COVID-19 pandemic’s health, social, and economic effects,” World Bank President David Malpass stated. “This method will allow for new supplies and will allow countries to acquire vaccines more quickly. It will also make vaccination availability, pricing, and delivery dates more transparent ” he said in a statement.
The World Bank’s partnership with COVAX, which is supported by the World Health Organization and the Global Alliance for Vaccines and Immunization (Gavi), will provide low- and middle-income nations with extra vaccine doses in addition to the completely subsidized doses they now get.