Exclusive: World Bank President David Malpass said he is seeking board approval for a $12 billion coronavirus vaccine financing plan to help poor and developing countries secure a sufficient share of doses when they become available
Malpass said the World Bank plan aimed to put poor and middle-income countries, where the virus is spreading most rapidly, on the same footing as richer countries by ensuring they have financing to secure supplies and a system for distribution, which will encourage drugmakers to meet their demand.
“Our goal is to alter the course of the pandemic for the low- and middle-income developing countries,” Malpass said. “This is a market signal to the manufacturers that there will be financing available for the developing countries and there will be demand. We will begin asking the manufacturers to begin creating allocations for these countries.
Separately, Brent McIntosh, U.S. Treasury undersecretary for international affairs, told a Foreign Policy magazine forum on Tuesday that wealthy countries were working on broad vaccine availability.
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