World Bank to provide $4 Billion for purchase of COVID-19 Vaccines

MONROVIA, LIBERIA-The World Bank will provide four-billion United States Dollars for the purchase of COVID-19 vaccines for fifty-one Countries, most of the benefiting countries are from Africa.

According to the World Bank release issued over the weekend, more than half of the four-Billion Dollars comes from the International Development Association (IDA) fund for poorest Countries.

The release said the amount is part of the World Bank’s commitment to help low and middle-income countries acquire and distribute vaccines and strengthen their health systems.

The release quotes the World Bank as calling on governments, pharmaceutical companies, and organizations involved in vaccine procurement and delivery to help increase transparency.

It also wants various institutions to build greater public information regarding vaccine contracts, options and agreements; vaccine financing and delivery agreements; and doses delivered and future delivery plans.

The release disclosed that since the start of the COVID-19 pandemic, the World Bank Group has approved more than one-hundred-fifty- billion to fight the health, economic, and social impacts of the pandemic.

The World Bank is urging countries anticipating excess vaccine supplies in the coming months to release their surplus doses and options as soon as possible, in a transparent manner.

The Bank, in the release said since April 2020, it has scaled up its financing by over fifty-percent; helping more than one-hundred countries meet emergency health needs, strengthen pandemic preparedness.

The World Bank said the four-Billion Dollar Vaccines will go a long way in helping developing Countries combat Coronavirus.

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