Vaccine Alliance announced that it has raised $360 million from the European Commission, Spain, France, the Bill & Melinda Gates Foundation, and the Republic of Korea, which brings the total fundraising revenue to $2 billion.
The vaccine alliance, Gavi, is a group that has protected about 50% of the world’s children against some very deadly diseases. The group revealed its intention to donate new funds that aim to protect the adults in the world against the new coronavirus pandemic.
With this funding, Gavi COVAX AMC will be able to reserve and access 1 billion doses for low- and middle-income nations. The announcement was made as 94 higher-income economies officially joined the COVAX Facility.
The COVAX facility is a global initiative aimed at ensuring quick and equitable access to effective and safe COVID-19 vaccines for the most vulnerable countries across the world.
We are incredibly grateful for the support received so far. This vital funding not only helps us ensure lower-income economies aren’t left at the back of the queue when safe and effective COVID-19 vaccines become available, but it will also play a vital role in ending the acute phase of this pandemic worldwide.Dr Seth Berkley, CEO of Gavi, the Vaccine Alliance.
COVAX is currently the only global initiative working with manufacturers and governments to ensure the availability of COVID-19 vaccines across the world, especially to low-income economies.
For the last twenty years, Gavi, the vaccine alliance, has immunized over 822 million children and prevented over 14 million deaths, helping to reduce child mortality in 73 developing countries.