Biden to announce $4 billion commitment to COVID-19 vaccine-sharing campaign
What's the story
US President Joe Biden will on Friday announce a massive $4 billion commitment to the global COVID-19 vaccine alliance with the goal of inoculating vulnerable populations and reach those without other options, the White House said. A formal announcement in this regard would be made by Biden during his address to the virtual meeting of G-7 leaders.
Information
US to contribute an initial $2 billion to Gavi
The US will provide an initial $2 billion contribution to Gavi, the vaccine alliance for COVAX Advance Market Commitment - the innovative financing instrument of COVAX Facility which supports access to safe and effective vaccines for 92 low- and middle-income economies.
Funding
The contribution will help expand COVAX's reach
The Biden administration will take a leadership role in galvanizing further global contributions to COVAX by releasing an additional $2 billion through 2021 and 2022, of which the first $500 million will be made available when existing donor pledges are fulfilled and initial doses are delivered to AMC countries. In close cooperation with Gavi, this additional $2 billion will serve to expand COVAX's reach.
Details
Biden calls G7 and other partners to work alongside Gavi
The Biden administration also called on G7 and other partners to work alongside Gavi, to bring in billions more in resources to support global vaccination, and to target urgent vaccine manufacturing, supply, and delivery needs. Biden will reaffirm the US' commitment to global health security and advancing the Global Health Security Agenda so that all countries are able to prevent, detect and respond to outbreaks.
Details
Important to catalyze the country's capacity to prevent biological catastrophes
The COVID-19 pandemic and ongoing Ebola outbreaks in the DRC and Guinea highlight the need for sustainable health security financing to catalyze the country's capacity to prevent biological catastrophes. WH Press Secretary Jen Psaki said this virtual engagement with world leaders leading democratic market economies will provide an opportunity for President Biden to discuss plans to defeat the pandemic and rebuild the global economy.
Quote
Biden to focus on global response to the pandemic
"He will focus on a global response to the pandemic, including coordination on vaccine production, distribution, and supplies, as well as continued efforts to mobilize and cooperate against the threat of emerging infectious diseases by building country capacity and establishing health security financing," she said.
Measures
Biden aims to engage with WHO to strengthen global health
In January, President Biden had announced that the United States would reengage with the World Health Organization to strengthen global health. "His first national security memorandum was focused on COVID-19 and the relationship between a safe and secure United States; defeating COVID-19; improving global health; and advancing domestic and global health security to prevent, detect, and respond to future biological catastrophes," she said.
Global efforts
US will join COVAX initiative to purchase, distribute vaccines globally
The administration has pledged the United States will join the COVAX initiative to purchase and distribute vaccines globally and through a multilateral mechanism. "These global efforts reinforce the President's progress to address the COVID-19 pandemic at home, including increasing the pace of vaccinations, instituting public health measures for safe travel, and providing schools with scientific guidance for safe operations," Psaki said.