Andrea Shalal
3 minute read
A nurse prepares to administer the AstraZeneca/Oxford COVID-19 vaccine under the COVAX scheme at the Eka Kotebe General Hospital in Addis Ababa, Ethiopia March 13, 2021. REUTERS/Tiksa Negeri/File Photo
WASHINGTON, July 26 (Reuters) - The World Bank and the COVAX global vaccine distribution program unveiled on Monday a financing mechanism to speed the supply of doses to developing countries, where COVID-19 inoculation rates lag far behind those of richer nations.
The mechanism allows COVAX to make advance purchases - at more competitive prices - from vaccine manufacturers based on aggregated demand across countries, using financing from the World Bank and other multilateral development banks.
Tuesday, 27 Jul 2021 05:28 AM MYT
Covax was set up to ensure 92 developing territories could access coronavirus vaccines to fight the pandemic, with the cost covered by donors. Reuters pic
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GENEVA, July 27 A new World Bank financing mechanism will allow developing countries to purchase Covid-19 vaccines collectively through the Covax facility, it was announced Monday.
Covax was set up to ensure 92 developing territories could access coronavirus vaccines to fight the pandemic, with the cost covered by donors.
The new mechanism will allow those countries to buy additional doses on top of the subsidised ones they will already receive via Covax.
A nurse prepares to administer the AstraZeneca/Oxford Covid-19 vaccine under the Covax scheme at the Eka Kotebe General Hospital in Addis Ababa on March 13. Reuters
GENEVA: A new World Bank financing mechanism will allow developing countries to purchase Covid-19 vaccines collectively through the Covax facility, the scheme announced on Monday.
Covax was set up to ensure 92 developing territories could access coronavirus vaccines to fight the pandemic, with the cost covered by donors.
The new mechanism will allow those countries to buy additional doses on top of the subsidised ones they will already receive via Covax.
Using money from the World Bank and other development banks, the facility says it will make advanced purchases from vaccine manufacturers based on aggregated demand across countries.
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