What Is COVAX?
COVID-19 Vaccines Global Access, better known as COVAX, is a global platform to support the development, manufacturing, and distribution of COVID-19 vaccines. It was launched in April 2020 by the World Health Organization (WHO), the European Commission, and France as one of the three pillars of the Access to COVID-19 Tool Accelerator.
A crucial aspect of the initiative is the COVAX Facility, which is run by public-private global health partnership known as Gavi, the Vaccine Alliance. The COVAX Facility is a procurement mechanism that purchases vaccines from a portfolio of producers on behalf of countries that are COVAX members. The facility has been working with manufacturers to ensure that they had the capacity to produce large quantities of doses once vaccines were approved. Now, the facility is purchasing and distributing vaccines to its member countries.
Adobe
After months of uncertainty and frustration, a World Health Organization program designed to ensure access to Covid-19 vaccines in dozens of low-income countries late last week received a spate of good news.
First, one vaccine maker, Novavax (NVAX), pledged 1.1 billion doses of its shot to the WHO effort, which is known as COVAX. Meanwhile, the U.S. agreed to contribute $4 billion in aid over the next two years, with Germany adding $1.2 billion and the European Commission providing $600 million. Collectively, the G7 countries have now committed a total $7.5 billion. And the U.K. promised to provide surplus vaccines to low-income countries.
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