WHO Says it Needs $100 Billion for COVID-19 Vaccines
The World Health Organization (WHO) will need $100 billion to pay for COVID-19 vaccines but it has only received commitments for 10 percent of that amount, according to the organization’s Director General Tedros Adhanom Ghebreyesus.
In April, numerous world leaders signed on to the WHO’s COVID-19 Tools (ACT) Accelerator initiative, which aims to accelerate development, production and global distribution of vaccines, drugs and diagnostics for the disease. Countries, such as Austria, Canada and the UK have already committed funds. Other participants in the initiative include Gavi, the Vaccine Alliance and the World Bank Group.
But Adhanom Ghebreyesus warned yesterday of a “vast gap” between the funds that have been committed so far and what will be needed, adding that the WHO is only 10 percent of the way to funding the billions required to “realize the promise of the ACT Accelerator.”
The WHO chief noted that the amount needed for vaccines is “small in comparison to the $10 trillion that have already been invested by G20 countries” for dealing with the pandemic thus far. He said the coming three months present a “crucial window” of opportunity to “fundamentally scale up the way we are funding the ACT Accelerator.” — Jordan Williams