World Bank to provide US$2 billion for vaccines in 40 developing countries

RIO DE JANEIRO, BRAZIL – The World Bank will provide US$2 billion in funding for the purchase, development, and manufacture of vaccines by the end of April, and is working with more than 40 countries in this effort, said World Bank Chief Operating Officer Axel van Trotsenburg, with the goal of increasing that to US$4 billion for 50 nations by midyear.

Health officials warned of the need to accelerate immunization in these countries so that the process does not lag behind the emergence of new variants of the virus.

At the same World Bank forum, World Health Organization Director-General Tedros Adhanom Ghebreyesus called for political will to step up Covid-19 vaccine production and share supplies.

He added that the inability to pass a proposal to waive intellectual property rights under World Trade Organization rules is “the elephant in the room”.

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