WORLD BANK BOOSTS VACCINE FUNDING FOR DEVELOPING NATIONS

Thu 01 June 2021:

The World Bank announced it has increased its vaccine fund for developing countries to $20 billion.

In addition, the bank’s private financing arm secured a $710 million package for a South African vaccine manufacturer to ramp up production, the institution announced.

“Together the actions announced today on vaccine production, deployment and financing will save lives, boost economic recovery and help ensure the people in the developing countries have a chance to prosper,” World Bank Group President David Malpass told reporters.

The $20 billion is available through 2022 to finance vaccine distribution as well as cold chains and training health workers, the bank said in a statement.

As of Wednesday the bank had distributed $4.4 billion to 51 developing nations, half of which in the form of grants or low-cost loans.

Over 3.04 billion doses of coronavirus vaccines have so far been administered worldwide, figures compiled by Our World in Data, a tracking website affiliated with Oxford University, showed on Wednesday.

China leads the global count with more than 1.23 billion jabs, followed by the India with 327.42 million.

The US has administered 325.15 million shots, Brazil 98.83 million, the UK 77.3 million, Germany 73.75 million, France 53.8 million, and Italy 51.01 million. 

Since December 2019, the pandemic has claimed over 3.93 million lives in 192 countries and regions, with more than 181.85 million cases reported worldwide, according to the US’ Johns Hopkins University.