At The 2022 Break COVID Now Summit, World leaders commit US$ 4.8 billion to help Break COVID Now.
The 2022 Break COVID Now Summit, co-hosted by Gavi, the Vaccine Alliance alongside the governments of Germany, Ghana, Indonesia and Senegal saw world leaders come together to reaffirm support for equitable access to COVID-19 vaccines and act urgently to break COVID now.
Summit sees US$ 4.8 billion in commitments, securing vital cash to help lower-income countries boost vaccinations now, secure equitable access for new vaccine procurements plus additional help for countries looking to procure their own vaccines in the future. Indonesia’s President, leading the G20 this year, extended his support for the launch of the Pandemic Vaccine Pool as a key instrument for response and resiliency.
With Germany, Indonesia and Senegal holding Presidencies in the G7, G20 and AU respectively, the Summit represented an affirmation of the international community’s support for COVAX’s multilateral approach to vaccine equity. The event also successfully secured commitments valued at US$ 4.8 billion for the Gavi COVAX Advance Market Commitment (AMC), the mechanism which supports equitable access to COVID-19 vaccines for lower-income countries.
Professor José Manuel Barroso, Chair of the Gavi Board, said: “We welcome this incredible show of global solidarity from so many stakeholders at a time when the world faces multiple challenges“
These commitments mean a total of US$ 1.7 billion in new sovereign donor pledges towards the 2022 AMC fundraising ask, as well as US$ 2.1 billion worth of commitments via new innovative financial mechanisms provided by the EIB and the United States Development Finance Corporation (DFC), and least US$ 1 billion made available by three multilateral development banks (MDBs) – World Bank, Asian Development Bank and European Investment Bank (EIB).
The commitments made will enable COVAX to provide urgent delivery support for lower-income countries and ensure dose donations can be shipped and administered. They have also enabled Gavi to launch the Pandemic Vaccine Pool to support future procurement of new COVID-19 vaccines, on behalf of COVAX AMC participants, should they be needed. Commitments from MDBs enable low-cost financing for these countries to purchase additional vaccines beyond those that are donor-funded.
2022 Break COVID Now Summit co-hosted by Gavi, alongside Germany (G7 President), Ghana, Indonesia (G20 President), and Senegal (African Union chair) reaffirms support for COVAX and global solidarity in fighting the COVID-19 pandemic.
New donor commitments made to the GAVI COVAX AMC include:
- Japan, co-host of the 2021 AMC Summit, pledged US$ 500 million
- Germany, co-host of today’s Break COVID Now Summit, pledged EUR 400 million
- Canada pledged CAD 220 million
- Brazil pledged US$ 86.7 million
- European Commission EUR 75 million
- Australia pledged AUD 85 million
- Finland pledged EUR 2 million
- Iceland pledged ISK 250 million
- Luxembourg pledged EUR 1 million
- Vietnam pledged US$ 500,000
- Regional Government of Catalonia, Spain pledged EUR 290’000
- Provincial Council of Bizkaia, Spain pledged EUR 100’000
- Estonia pledged EUR 40,000
- Malta pledged EUR 40,000
- Workday Foundation pledged US$ 300,000
- CODE(RED) Campaign pledged US$ 200,000
- Other donors also pledged a total of US$ 122.6 million
The pledges made today build on top of the commitments made at the 2022 One World Protected event, which launched the 2022 AMC Investment Opportunity on 19 January.
Funding for delivery support and ancillaries is urgently needed to help close the vaccine equity gap by helping countries more rapidly reach their national vaccine coverage targets. The Pandemic Vaccine Pool is an instrument aimed at securing equitable access to new vaccines in the future, such as variant-adapted vaccines, by ensuring resources are on hand to make instant down payments should the need arise.
