In addition to purchasing COVID-19 vaccines, the WBG financing will also support countries to access to COVID-19 tests and treatments and expand immunization capacity to help health systems deploy the vaccines effectively. This includes supply chain and logistics management for vaccine storage handling, trained vaccinators, and large-scale communication and outreach campaigns to reach communities and households.
The new financing – 12 billion USD for developing countries to purchase COVID-19 Vaccines, WB reports, builds on the broader World Bank health program, which focuses on strengthening the health systems and health service delivery. “The Bank’s robust network of technical advice and implementation support capacity, already working on the ground in many developing countries with partner agencies, will help to further strengthen these systems” – World Bank says in a statement on the official website.
The International Finance Corporation (IFC), the WBG’s private sector arm, is also investing in vaccine manufacturers through its $4 billion Global Health Platform. The aim is to encourage ramped-up production of COVID-19 vaccines and therapeutics in advanced and developing economies alike—and to ensure that emerging markets gain access to available doses.
