• Tuesday, Nov 30, 2021
  • Last Update : 09:21 pm

World Bank to commit $2B to Covid vaccines in developing countries by end-April

  • Published at 12:49 pm April 10th, 2021
World Bank
File photo: The World Bank Group logo is seen on the building of the Washington-based global development lender Reuters

The $2 billion is part of a pool of some $12 billion that the World Bank has made available overall for vaccine development, distribution and production in low-and middle-income countries

The World Bank Group will have committed $2 billion in financing by the end of April for Covid-19 vaccines in some 40 developing countries, World Bank Managing Director of Operations Axel van Trotsenburg said on Friday.

The $2 billion is part of a pool of some $12 billion that the World Bank has made available overall for vaccine development, distribution and production in low-and middle-income countries, van Trotsenburg told a World Bank forum.

David Malpass, the World Bank's president, said in separate remarks to the lender's development committee that the bank expects this to expand to $4 billion worth of commitments in 50 countries by mid-year.

However, public health officials at the same forum warned that a race between the coronavirus and the vaccines meant to stop it could be lost if the pace of vaccinations in the developing world did not pick up.

World Health Organization (WHO) director-general Tedros Adhanom Ghebreyesus said that existing vaccines could be rendered ineffective if the virus continues to spread and mutate.

“Even those countries who have high coverage of vaccines will not be secure because the new variants that may not be stopped by the vaccines we have, will invade the countries that may have even 100% coverage in a few months,” he said.

Tedros called for more political will to boost production of Covid-19 vaccines and share supplies, including through stalled intellectual property waiver on vaccines through the World Trade Organization.

The WTO’s Trade-Related Aspects of Intellectual Property or TRIPS waiver was the “elephant in the room” holding back vaccine production, Tedros said, adding that it was meant for emergencies such as the coronavirus pandemic.

“We haven’t seen any emergency like this in our lifetime. If we cannot use it now, then when are we going to use it?” Tedros asked. 

“The mother of all these bottlenecks is lack of political will.”

51
Facebook 51
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail