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Raised over $ 2 billion to support fair access to COVID vaccines with an additional $ 5 billion needed in 2021
Gavi, the Vaccine Alliance welcomes the latest promises in support Gavi COVAX AMC, a funding mechanism that will support Access of 92 low- and middle-income economies to safe and effective vaccines against COVID-19. Approximately $ 360 million includes $ 350 million announced at the Paris Peace Forum by the European Commission, France, Spain and the Bill & Melinda Gates Foundation, as well as the Republic of Korea’s earlier pledge of $ 10 million. This means that over $ 2 billion has been raised so far for AMV Gavi COVAX, thanks to contributions from other sovereign donors, the private sector and philanthropic sources. This funding will allow COVAX AMC to reserve and access 1 billion doses for economies acceptable to AMC, with at least the $ 5 billion needed in 2021 to procure doses as they pass through the portfolio.
The announcements come when 94 higher-income economies have officially joined COVAX facility, a global effort to ensure fast and equitable access to safe and efficient COVID-19 vaccines for the most vulnerable groups around the world. These 94 self-financing participants in the COVAX Instrument will be joined by 92 low- and middle-income economies eligible to participate in the Instrument with the support of Gavi COVAX AMC.
“We are incredibly grateful for the support so far. This vital funding not only helps us ensure that lower-income economies do not lag behind when safe and effective vaccines against COVID-19 become available, but will also play a vital role in ending the acute phase of this pandemic worldwide, ”said Dr. .Seth Berkley, CEO of Gavi, Alliance for Vaccines. “However, this is not the time to get our feet off the gas. We urgently need to raise at least an additional $ 5 billion by the end of 2021 to ensure a fair distribution of these vaccines to those who need them. “
Details of the latest received promises to Gavi COVAX are as follows:
- The president of the European Commission has pledged 100m euros (approximately $ 120m) to support access to vaccines in lower-income countries. That amount is in addition to 400m euros (approximately $ 480m) in guarantees approved by the European Investment Bank (EIB) on Wednesday. These commitments contribute to the Europe team, a joint effort between the Commission, the EIB, the 27 EU Member States, Norway and Iceland.
- France has confirmed that the 100 million euros (approximately $ 120 million) promised at the global vaccine summit on June 4, as special funds for Gavi to fight COVID-19, will go to Gavi COVAX AMC.
- Spain has confirmed that the 50 million euros (approximately $ 60 million) promised at the Global Vaccine Summit on June 4, as special funds for Gavi to fight COVID-19, will go to Gavi COVAX AMC.
- The Bill & Melinda Gates Foundation has promised AMC Gavi COVAX $ 50 million. That amount is in addition to the $ 106 million the Foundation pledged for COVAX AMC, bringing their total contribution to $ 156 million.
- The Republic of Korea has previously pledged $ 10 million in new funding for AMV Gavi COVAX.
The Bill & Melinda Gates Foundation is also committed an additional $ 20 million to CEPI, which conducts research and development of COVAX vaccines to develop safe and effective vaccines that may be available to participating COVAX Facility countries. CEPI currently supports nine candidate vaccines; of which eight are currently in clinical trials. Governments, vaccine manufacturers (apart from their own research and development), organizations and individuals have so far set aside $ 1.3 billion for vaccine research and development, but an additional $ 800 million is urgently needed to keep the portfolio moving forward.
The COVAX plant is part of COVAX, the vaccine pillar Accelerator access COVID-19 Tools (ACT), co-led by the Epidemic Preparedness Coalition for Innovation (CEPI), Gavi, the Vaccine Alliance and the World Health Organization (WHO) – working in partnership with vaccine manufacturers from developed and developing countries, UNICEF, the World Bank, civil society organizations and others. COVAX is the only global initiative working with governments and manufacturers to ensure that COVID-19 vaccines are available worldwide to economies of all means.
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