Over the past year the Gavi COVAX AMC has been able to deliver 1.4 billion doses of life-saving jabs to 145 countries.
Over the past year, despite uncertain vaccine supply, unreliable supply chains, export controls and restrictions, COVAX AMC has been able to deliver 1.4 billion1 doses of life-saving jabs to 145 countries, reaching some of the poorest and most remote places on earth. IFFIm has supported this herculean humanitarian effort with US$ 975 million in cash disbursements allocated for the COVAX AMC’s 92 participating economies.
Successes in some of these countries demonstrate the COVAX AMC’s accomplishments. For example, Nepal has already vaccinated more than 75% of its population. And, in just five months, Vietnam went from the second lowest vaccine coverage in Southeast Asia to an exemplar – vaccinating 100% of its population, with 90% now fully vaccinated.2
Still, hundreds of millions of people, most in lower-income countries, remain unvaccinated and unprotected, and the virus is evolving: a major variant has been identified every four months, on average, since the pandemic was declared.
A key lesson learned during the pandemic is the need for upfront cash to procure large volumes of vaccines at sustainable prices. IFFIm’s capability to frontload funding has given Gavi reliable, standby cash, and that strengthens its negotiating hand. This helps procure vaccines that are affordable and sustainable, preventing the gulf between the vaccine haves and have-nots from widening.
To achieve that kind of security in 2022 and beyond, IFFIm funding will help build a global Pandemic Vaccine Pool to react immediately to unforeseen shocks and risks as the COVID-19 pandemic enters year three. The initiative will be funded by up to US$ 2.7 billion in commitments and is structured so it can be funded by direct cash contributions and attract pledges made through new contingent financing features.
For the latest on COVAX and COVID-19 visit Gavi.org and the COVID-19 vaccine market dashboard.
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