World Bank To Finance Extra COVID-19 Vaccines For Poorer Nations

The new mechanism will allow those countries to buy additional doses on top of the subsidised ones they will already receive via Covax.

A new World Bank financing mechanism will allow developing countries to purchase Covid-19 vaccines collectively through the Covax facility, the scheme 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. 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.