World Bank Seeks Board Approval For $12 Billion COVID-19 Vaccine Plan

Plan aimed at helping poor and developing countries secure sufficient share of vaccine.

Sohil Nikam

September 30, 2020

Trending News

1 min


World Bank President David Malpass has said that he is seeking board approval for a $12 billion financing plan for the coronavirus vaccine that’s expected in the coming months. This plan is aimed at helping poor and developing nations procure and distribute a sufficient share of vaccine doses. Malpass has also said that the board will consider the plan in early October. This comes amid strong competition from developed nations to secure massive doses of the vaccine by pledging big sums of money beforehand.

The United States Government has, for instance, has pledged over $3 billion to secure hundreds of millions of doses of vaccines that are under development from Britain’s AstraZeneca Plc and other research labs. “Our goal is to alter the course of the pandemic for the low- and middle-income developing countries. This is a market signal to the manufacturers that there will be financing available for the developing countries and there will be demand. We will begin asking the manufacturers to begin creating allocations for these countries,” Malpass said.

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