The World Bank Group says it expects vaccine financing for 12 countries to reach $1.6bn before the end of March 2021.
World Bank President, David Malpass, said on Friday while welcoming the cooperation from the G7 countries and their commitment to have the Coronavirus Disease vaccine doses available for developing countries.
“The World Bank Group welcomes the strong statement of cooperation from the G7 today, and their commitment to having COVID-19 vaccine doses available for developing countries.
“We expect our commitment to reach $1.6bn of vaccine financing for 12 countries before the end of March, and are working rapidly on a pipeline of operations in 30 more countries with up to $12bn available,” Malpass stated on Friday.
He noted that the group had been working closely with GAVI, the Vaccine Alliance, World Health Organisation and United Nations International Children’s Emergency Fund on vaccine readiness assessments in over 100 countries to facilitate deployment.
The International Finance Corporation, the private sector development arm of the group, is investing in vaccine manufacturing in the developing world, he added.
His words, “Countries can use this funding to procure doses through COVAX, when they can confirm availability of doses and delivery dates, and also through other intermediaries and manufacturers. Transparency of contracting is a key ingredient to success in vaccination efforts. At this critical juncture, we must act swiftly and decisively to accelerate vaccine roll-out around the world.
“Only when access to vaccinations is expanded to everyone can we resume development progress after the devastating impact of the pandemic on people and economies.”