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COVID Vaccine – Response Financing
World Bank Financing for COVID-19 Vaccine Rollout Reaches $2 Billion
Financing for the poorest countries is on grant or highly concessional terms
WASHINGTON, April 20, 2021— The World Bank announced today that it has reached $2 billion in approved financing for the purchase and distribution of COVID-19 vaccines for 17 developing countries.
This financing is part of the $12 billion envelope over 24 months for developing countries to acquire and deploy vaccines and strengthen their vaccination systems. For poorer countries financing is on grant or highly concessional terms. The Bank expects to support 50 countries with $4 billion financing for COVID-19 vaccines by mid-year.
The $2 billion funding is supporting COVID-19 vaccination in Afghanistan, Bangladesh, Cabo Verde, Cote d’Ivoire, Ecuador, El Salvador, Eswatini, Ethiopia, The Gambia, Honduras, Lebanon, Mongolia, Nepal, Philippines, Rwanda, Tajikistan, and Tunisia.
“Access to vaccines is key to altering the course of the pandemic and helping countries move toward a resilient recovery,” said World Bank Group President David Malpass. “Our programs are helping developing countries respond to the health emergency and have financing available for vaccines. As the world attempts to carry out the largest vaccination effort in history, we have stressed the need for countries with excess vaccine supplies to release them as soon as possible, and for financing commitments to COVAX to be encashed.”
The Bank’s vaccine finance package is designed to be flexible. It can be used by countries to procure doses through COVAX or other sources. It can also finance other key deployment and health system strengthening activities, such as medical supplies, personal protective equipment, vaccine cold-chains, training health workers, data- and information systems and communications and outreach campaigns to key stakeholders which are key to ensure vaccination acceptance. The Bank has aligned its eligibility criteria of COVID 19 vaccines with the revised eligibility criteria of COVAX and other Multilateral partners…