World Bank approves $12bn for Covid-19 vaccines
14 October, 2020
The World Bank on Tuesday said it approved $12 billion for developing countries to finance the purchase and distribution of Covid-19 vaccines, tests, and treatment.
The financing "aims to aid vaccination as high as a billion people", the lender said.
The amount of money is part of an overall World Bank Group package of up to $160bn until July 2021, made to help developing countries battle the coronavirus pandemic.
"This financing package helps signal to the research and pharmaceutical industry that citizens in developing countries also need usage of safe and effective Covid-19 vaccines," the bank said.
"It will also provide financing and tech support team in order that developing countries can plan to deploy vaccines at scale, in coordination with international partners."
Access to effective and safe vaccines "and strengthened delivery systems are key to alter the span of the pandemic and help countries experiencing catastrophic monetary and fiscal impacts move towards a resilient recovery", World Bank Group President David Malpass said.
The funds "may also support countries to gain access to Covid-19 tests and treatments, and expand immunization capacity to greatly help health systems deploy the vaccines effectively," the bank said.
The financing approval was expected, as Mr. Malpass had announced the project in late September.
While vaccines have yet to seem in the marketplace, he told the French daily Le Figaro that it had been necessary to prepare as a result of the complicated vaccine distribution process.
The bank's approach, it said, drew on its "significant expertise in supporting large-scale immunization programs for vaccine-preventable diseases, in addition to public health programs to tackle infectious diseases such as for example HIV, tuberculosis, malaria, and neglected tropical diseases".
Source: www.thenational.ae
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