Geneva, 18 June 2021 – Showing a clear commitment to supporting equitable access to vaccines, the Republic of Korea announced a pledge of US$ 100 million in funding for the Gavi COVAX Advance Market Commitment (Gavi COVAX AMC), the mechanism that finances the procurement of COVID-19 vaccine doses for 92 low- and middle-income economies around the world. In addition, the South Korean Government pledged a further US$ 100 million to come in 2022.
This strong commitment comes alongside support to vaccine production, as the Republic of Korea’s SK Bioscience has been part of the AstraZeneca manufacturing network that has so far supplied over 49 million doses of vaccines to 85 countries and territories. With this new funding pledge, COVAX will be able to procure even more doses in 2021 and 2022 to help further equity and move towards ending the acute phase of the pandemic.
“An early expansion of vaccine supply is the most necessary short-term prescription to ensure equitable access to vaccines,” said Moon Jae-in, President of the Republic of Korea. “The Republic of Korea pledges a contribution of a total of US$ 100 million this year, and in 2022 another US$ 100 million in the form of a combination of financial and in-kind contribution.”
Commenting on this announcement, Prof. José Manuel Barroso, Chair of the Board of Gavi, the Vaccine Alliance, added: “The Republic of Korea has supported routine vaccination programmes through Gavi since 2010, and this new announcement significantly builds on that commitment and helps COVAX get more vaccines to people who need them. Over the past decade, we have seen Korea becoming a leading force in global health and a champion of multilateral collaboration. We applaud the leadership President Moon is showing through this pledge.”
Following recent commitments – including pledges of dose-sharing and funding announced at the G7 Summit hosted by U.K Prime Minister Boris Johnson, the Gavi COVAX AMC Summit hosted by Prime Minister Suga Yoshihide of Japan, the G20 Global Health Summit hosted by Prime Minister Draghi and President von der Leyen and the February 2021 virtual G7 Early Leaders’ Summit – the Gavi COVAX AMC has now raised more than US$ 9.7 billion in funding in total. Gavi calls on donor countries and manufacturers to help ensure doses can flow quickly to COVAX, and support global equitable access to vaccines now.