The World Bank announced yesterday that it has reached US$2 billion in approved financing for the purchase and distribution of COVID-19 vaccines for 17 developing countries. 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.
This financing is part of the US$12 billion envelope over 24 months for developing countries to acquire and deploy vaccines and strengthen their vaccination systems. For poorer countries, the financial institution said financing is on grant or highly concessional terms.
Furthermore, the Bank expects to support 50 countries with $4 billion financing for COVID-19 vaccines by mid-year. It is also working with governments and partners (UNICEF, the Global Fund, World Health Organization, and GAVI) to assess the readiness of over 140 developing countries to deploy vaccines. Initial findings show that while 85% of countries have developed national vaccination plans, but only 30% have plans to train the number of vaccinators needed and 27% have put public engagement strategies in place to address vaccine hesitancy.
Since the beginning of the crisis, the World Bank Group approved US$108.6 billion to help countries fight the health, economic and social consequences of the pandemic. The Bank is also assisting over 100 countries with COVID-19 health emergency projects reaching 70% of the world population
