Geneva, 21 May 2021 – The Global Health Summit, hosted by the European Commission and Italy as chair of the G20, saw governments announce support to the Gavi COVAX Advance Market Commitment (AMC), including a pledge of EUR 300 million from Italy. The commitment brings the total amount of funds raised for the Gavi COVAX AMC, the funding mechanism to finance doses of COVID-19 vaccines for 92 lower-income economies within the COVAX Facility, to over US$ 7 billion.
In addition, Team Europe announced the largest dose sharing donation to date, with 100 million doses of COVID-19 vaccines going to lower-income economies with a majority of them through the COVAX AMC. Donors include France and Germany who stated they would be sharing 30 million surplus doses each and Italy who will be donating 15 million doses by the end of 2021.
This additional funding comes at a time when COVAX is looking to secure a total of US$8.3 billion from sovereign donors and the private sector for 2020-21 in order to accelerate access to 1.8 billion COVID-19 vaccine doses for lower-income economies. In addition, to support AMC eligible economies’ that want to buy additional doses through COVAX, a further US$1 billion is being sought from multilateral development banks to support a cost-sharing initiative.
The campaign will culminate at the virtual Gavi COVAX Advance Market Commitment (AMC) Summit – One World Protected – Committed to Deliver on the 2nd June, which will be co-hosted by Japanese Prime Minister H.E. Yoshihide Suga together with José Manuel Barroso, Chair of the Gavi Board.
“COVAX has built the systems to deliver vaccines to low and lower middle income countries; we welcome the support of the G-20 countries to help us scale up volumes and reduce vaccine inequities. Today’s funding, especially the very generous commitment from Italy and dose donation pledges demonstrate that global leadership understands that it’s time to unleash COVAX’s full potential to bring the acute phase of this pandemic to an end,” said Dr Seth Berkley, CEO of Gavi, the Vaccine Alliance. “Funding the AMC and sharing doses with COVAX are among the most effective interventions a country can make to control COVID-19 and we urge all governments to work with us in protecting people everywhere.”
Securing 1.8 billion doses would enable the Gavi COVAX AMC to protect nearly 30% of the population in 92 lower-income countries, or roughly half the adult population. The additional funds will also help diversify the portfolio in times of supply uncertainty; secure access to doses for delivery in 2021 and early 2022; and plan the scenarios and strategy to meet public health needs for 2022 and beyond.
A number of Sovereign states including France and Switzerland pledged support to COVAX, with further announcements to follow at the Gavi COVAX AMC Summit on June 2. This comes as part of a broader intent to donate additional funds to the Access to COVID-19 Tools Accelerator (ACT-A) for the global sharing of safe, effective, quality and affordable vaccine doses through the COVAX Facility. The Rome Declaration of principles, endorsed at the Summit, recognises the role of extensive COVID-19 immunisation as a global public good and underlines the importance of addressing the ACT-A funding gap in order to help it fulfil its mandate.