Financing Vaccine Equity : Funding for Day-Zero of the Next Pandemic
A lack of timely financing for purchases of vaccines and other health products impeded the global response to the COVID-19 pandemic. Based on analysis of contract signature and delivery dates in COVID-19 vaccine advance purchase agreements, this pa...
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| Language: | English |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/099500105262228687/IDU0cdc5294e039a8045fb0aa670908d56a28371 http://hdl.handle.net/10986/37488 |
| Summary: | A lack of timely financing for
purchases of vaccines and other health products impeded the
global response to the COVID-19 pandemic. Based on analysis
of contract signature and delivery dates in COVID-19 vaccine
advance purchase agreements, this paper finds that 60–75
percent of the delay in vaccine deliveries to low- and
middle-income countries is attributable to their signing
purchase agreements later than high-income countries, which
placed them further behind in the delivery line. A pandemic
Advance Commitment Facility with access to a credit line on
day-zero of the next pandemic could allow low- and
middle-income countries to secure orders earlier, ensuring a
much faster and equitable global response than during
COVD-19. The paper outlines four options for a financier to
absorb some or all of the risk associated with the credit
line and discusses how the credit would complement other
proposals to strengthen the financing architecture for
pandemic preparedness, prevention, and response. |
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