Wednesday, 24 April 2024

Japan pledges $130M to support global access to COVID-19 vaccines

21 October 2020 | News

With this Gavi COVAX Advance Market Commitment (AMC) raises total funding roughly equal to $1.8 billion to ensure rapid and equitable access to COVID-19 vaccines for vulnerable groups across the world

The global effort to ensure equitable global access to COVID-19 vaccines received a boost with the announcement of a major pledge by the Government of Japan.

Speaking at the Ministerial Meeting of the Group of Friends of Universal Health Coverage (UHC), the Minister of Foreign Affairs of Japan unveiled a commitment of $130 million to the Gavi COVAX Advance Market Commitment (COVAX AMC), a financing mechanism that will reserve and accelerate safe and efficient vaccines against COVID-19 to countries across the Global South.

In order to reserve and access one billion doses for AMC-eligible economies, the Gavi COVAX AMC has set an initial fundraising goal of $2 billion by the end of 2020 to reserve and accelerate doses. Gavi has now reached $1.8 billion in contributions and pledges from sovereign donors, the private sector, and philanthropic sources. The funding will be used to support the procurement of safe and effective COVID-19 vaccines for 92 AMC-eligible countries, which include all economies with Gross National Income (GNI) per capita under US$ 4,000 plus other World Bank International Development Association (IDA)-eligible economies, including countries in the Pacific and South-East Asia. At least $5 billion more is needed in 2021 to procure doses as they come through the portfolio.

H.E. Mr. Motegi Toshimitsu, Foreign Minister of Japan announced, “Today, I would like to announce that Japan will contribute more than 130 million USD for the COVAX Advance Market Commitment (AMC), in order to enable lower income countries to reinforce equitable access to COVID-19 vaccines.”

Alongside the 92 low- and middle-income economies eligible for support by the Gavi COVAX AMC, 78 higher-income economies, which will finance their own vaccines, have now joined the COVAX Facility, a global effort to ensure rapid and equitable access to safe and effective COVID-19 vaccines for the most vulnerable groups across the world. Including the 92 AMC-eligible economies this means that 170 economies are now engaged with the Facility. Gavi manages the Office of the COVAX Facility, which oversees administration and coordination of the Facility. The COVAX Facility is part of COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator.

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