The FINANCIAL - World Bank Group President Welcomes G7 Statement

World Bank Group President Welcomes G7 Statement

World Bank Group President Welcomes G7 Statement

The FINANCIAL -- World Bank Group President David Malpass issued the following statement on the G7 Leaders’ meeting:"The World Bank Group welcomes the strong statement of cooperation from the G7 today, and their commitment to having COVID-19 vaccine doses available for developing countries.

The World Bank Group welcomes their commitments. We have worked closely with Gavi, WHO, and UNICEF on vaccine readiness assessments in over 100 countries to facilitate deployment. IFC, the World Bank Group’s private sector development arm, is also investing in vaccine manufacturing in the developing world.

We expect our commitments to reach $1.6 billion of vaccine financing for 12 countries before the end of March, and are working rapidly on a pipeline of operations in 30 more countries with up to $12 billion available. Countries can use this funding to procure doses through COVAX, when they can confirm availability of doses and delivery dates, and also through other intermediaries and manufacturers. Transparency of contracting is a key ingredient to success in vaccination efforts. At this critical juncture, we must act swiftly and decisively to accelerate vaccine roll-out around the world.

Only when access to vaccinations is expanded to everyone can we resume development progress after the devastating impacts of the pandemic on people and economies.

We join the G7 in thanking the UK for their focus on vulnerable countries as part of their G7 Presidency."

Author: The FINANCIAL

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