Washington: The World Bank said on Tuesday that it has approved $12 billion in funding to developing countries for the purchase and distribution of Covid-19 vaccine, testing and treatment.
The bank said in a statement that the financing “is designed to support the vaccination of up to one billion people.”
This money is part of the World Bank Group’s (WBG) master plan, which will total US$160 billion by June 2021 and is designed to help developing countries deal with the new coronavirus pandemic.
The statement said: “This financing plan sends a signal to the research and pharmaceutical industries that citizens of developing countries also need to obtain a safe and effective Covid-19 vaccine.”
“It will also provide financial and technical support so that developing countries can coordinate with international partners to prepare for the large-scale deployment of vaccines.”
David Malpass, President of the World Bank Group, said in a statement that access to safe and effective vaccines and enhanced delivery systems are the keys to changing the course of the pandemic and helping countries suffering from catastrophic economic and financial impacts Achieve resilience.
The statement added that the funding “will also support countries in obtaining Covid-19 tests and treatments, and expand immunization capabilities to help health systems deploy vaccines effectively.”
Since Malpass announced the project in late September, it is expected to receive financing approval.
Although the vaccine is not yet on the market, Malpass pointed out in an interview with the French newspaper Le Figaro that preparations are necessary because the vaccine distribution process is complicated.
The statement said that the World Bank’s approach is to use its “extensive expertise in supporting mass immunization programs against preventable vaccine diseases and public health programs to respond to infectious diseases such as HIV, tuberculosis, malaria, and neglected tropical diseases. Know how”.