The COVAX facility was established by Gavi, the Vaccine Alliance as part of an worldwide vaccine partnership with the Coalition for Epidemic Preparedness Innovations, the World Health Organization and other organisations.
During his media briefings, Dr Tedros Adhanom Ghebreyesus, who heads the World Health Organization, said that priority would be given to those who are most vulnerable.
As per World Health Organization information, around 200 vaccine candidates for COVID-19 are right now in pre-clinical and clinical testing stage. It aims to ensure that there is equitable access to safe and effective COVID-19 vaccines, when available, through facilitating purchases, funding access for developing countries, and allowing countries to trade or donate doses.
WHO and GAVI vaccine alliance that planned the scheme and published the list of signatories after a deadline for binding commitments expired also said that the scheme would account for about two-third of the world population.
He said investing in COVAX only makes sense, saying it "will help to bring the pandemic under control, save lives, accelerate the economic recovery and ensure that the race for vaccines is a collaboration, not a contest".
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"Malaysia must increase transparency, prepare our vaccine infrastructure and strengthen our voice globally", it said.
A number of other countries including the US are crafting their own deals to obtain vaccines, sparking concern that poorer regions will be left behind. The United States has struck multiple deals with vaccine developers to procure hundreds of millions of doses when a vaccine is available.
The allocation of Covid-19 vaccines aims at ensuring that no participating economy will be left behind, as policies determining the prioritization of vaccine rollout within economies will be guided by recommendations from the WHO Strategic Advisory Group of Experts on Immunization.
"Our challenge now is to take the tremendous promise of the ACT Accelerator and COVAX to scale", he said, calling on countries to increase their political and financial commitment. What Jamaicans need to be mindful of is that without this kind of facility, vaccines would be developed and the richer countries who have the resources and who develop the vaccine, in the first instance, they would be in the front of the line.
While the Malaysian Health Coalition (MHC) applauded the decision to join the worldwide Covid-19 vaccine plan (Covax), it urged the government to be more transparent in revealing its next steps after procuring the vaccines for Malaysians. "We have seen this time and again through our work with Gavi and Alliance partners", said Dr Lia Tadesse, Minister of Health for Ethiopia. "On the one hand, Pfizer will supply 9.9 million doses, while Covax Facility will ensure 13 million doses, which means around 11 million people will get the vaccine, considering that two doses will have to be administered to each person", he told RPP radio and TV station. "Let us work together to protect each other".