2022 Break COVID Now Summit co-hosted by Gavi, alongside Germany (G7 President), Ghana, Indonesia (G20 President), and Senegal (African Union chair) reaffirmed support for COVAX and global solidarity in fighting the COVID-19 pandemic.
Summit sees US$ 4.8 billion in commitments, securing vital cash to help lower-income countries boost vaccinations now, secure equitable access for new vaccine procurements plus additional help for countries looking to procure their own vaccines in the future.
Indonesia’s President, leading the G20 this year, extended his support for the launch of the Pandemic Vaccine Pool as a key instrument for response and resiliency.
Professor José Manuel Barroso, Chair of the Gavi Board, said: “We welcome this incredible show of global solidarity from so many stakeholders at a time when the world faces multiple challenges.”
Geneva, 8 April 2022 – The 2022 Break COVID Now Summit, co-hosted by Gavi, the Vaccine Alliance alongside the governments of Germany, Ghana, Indonesia, and Senegal saw world leaders come together to reaffirm support for equitable access to COVID-19 vaccines and acting urgently to break COVID now.
With Germany, Indonesia and Senegal holding Presidencies in the G7, G20 and AU respectively, the Summit represented an affirmation of the international community’s support for COVAX’s multilateral approach to vaccine equity. The event also successfully secured commitments valued at US$ 4.8 billion for the Gavi COVAX Advance Market Commitment (AMC), the mechanism which supports equitable access to COVID-19 vaccines for lower-income countries.
These commitments mean a total of US$ 1.7 billion in new sovereign donor pledges towards the 2022 AMC fundraising ask, as well as US$ 2.1 billion worth of commitments via new innovative financial mechanisms provided by the EIB and the United States Development Finance Corporation (DFC), and least US$ 1 billion made available by three multilateral development banks (MDBs) – World Bank, Asian Development Bank and European Investment Bank (EIB).
The commitments made will enable COVAX to provide urgent delivery support for lower-income countries and ensure dose donations can be shipped and administered.
They have also enabled Gavi to launch the Pandemic Vaccine Pool to support future procurement of new COVID-19 vaccines, on behalf of COVAX AMC participants, should they be needed.
Commitments from MDBs enable low-cost financing for these countries to purchase additional vaccines beyond those that are donor-funded.
NEW DONOR COMMITMENTS MADE TO THE GAVI COVAX AMC INCLUDE:
Japan, co-host of the 2021 AMC Summit, pledged US$ 500 million
Germany, co-host of today’s Break COVID Now Summit, pledged EUR 400 million
Canada pledged CAD 220 million
Brazil pledged US$ 86.7 million
European Commission EUR 75 million
Australia pledged AUD 85 million
Finland pledged EUR 2 million
Iceland pledged ISK 250 million
Luxembourg pledged EUR 1 million
Vietnam pledged US$ 500,000
Regional Government of Catalonia, Spain pledged EUR 290’000
Provincial Council of Bizkaia, Spain pledged EUR 100’000
Estonia pledged EUR 40,000
Malta pledged EUR 40,000
Workday Foundation pledged US$ 300,000
CODE(RED) Campaign pledged US$ 200,000
Other donors also pledged a total of US$ 122.6 million
The pledges made today build on top of the commitments made at the 2022 One World Protected event, which launched the 2022 AMC Investment Opportunity on 19 January.
A number of countries and groups expressed intention to make additional contributions to COVAX, including in support of the Pandemic Vaccine Pool, but were unable to announce today due to their budgetary processes and the short timeline of this emergency appeal.
“We welcome this incredible show of global solidarity from so many stakeholders at a time when the world faces multiple challenges and extend thanks to all those who participated – particularly our co-hosts for helping galvanise international support,” said Prof. José Manuel Barroso, Gavi Board Chair. “This pandemic is not over: while gaps in coverage remain, it will continue to wreak havoc on individuals, communities, and economies. Achieving equity is the key to breaking COVID now. We cannot afford to wait and risk the virus undoing all the progress that has been made.”
Thanks to support from its donors, COVAX has been able to build the world’s most diverse portfolio of COVID-19 vaccines, shipping more than 1.2 billion doses of COVID-19 vaccines to lower-income countries to date and disbursing more than US$ 600 million in delivery support.
Funding for delivery support and ancillaries is urgently needed to help close the vaccine equity gap by helping countries more rapidly reach their national vaccine coverage targets. The Pandemic Vaccine Pool is an instrument aimed at securing equitable access to new vaccines in the future, such as variant-adapted vaccines, by ensuring resources are on hand to make instant down payments should the need arise.
Gavi and its partners announced several new innovative finance initiatives:
The EIB committed an additional EUR 1 billion in front-loaded financing in support of the Gavi COVAX AMC.
Gavi and the United States Development Finance Corporation (DFC) announced the new COVAX Rapid Financing Facility, which will make up to US$ 1 billion available to allow Gavi to rapidly monetise pledges to the COVAX AMC, maximising the impact of these pledges by minimising waiting time for the corresponding funding to be made available.
In partnership with MedAcess and the Open Society Foundations, a US$ 200m risk-sharing facility that will help countries access funds rapidly should they wish to procure additional vaccines at COVAX-negotiated prices through a cost-sharing mechanism.
H.E. Olaf Scholz, Federal Chancellor of Germany and G7 President, said: “The global fight against the pandemic will be high on the agenda of the German G7 presidency. It’s important not just to look after ourselves, but to ensure that the rest of the world is vaccinated too.”
H.E. Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana, said: “The world finds itself in a favourable position thanks to COVAX and the collective efforts of the international community under the leadership of the Chair of the Gavi Board, José Manuel Barroso. In spite of this, many people still remain unvaccinated and unprotected and in the event of another wave of infections or a mutation of the virus these people will be at great risk. We, therefore, need to renew our commitment to support lower-income countries and support national COVID-19 vaccine objectives.”
H.E. Joko Widodo, President of the Republic of Indonesia and G20 President, said: “Global Health Architecture needs to be transformed to become faster, more responsive, and more resilient. This is in line with the priority of Indonesia’s Presidency in G20.
Therefore, I would like to extend my support for COVAX’s new funding initiative for 2022, including the launch of the Pandemic Vaccine Pool today. We need to turn “vaccines” into “vaccinations”. Support in capacity building and funding is key for us to recover from this pandemic and to deal with upcoming pandemics. Recover together… Recover stronger.”
H.E. Macky Sall, President, Republic of Senegal and Chairperson of the African Union, said: “Gavi deserves to be supported as an essential pillar of international solidarity for immunisation. That is why, in my capacity as President of the Republic of Senegal and current Chairperson of the African Union, I call on all countries, all institutions, all partners to contribute to the replenishment of COVAX resources.”
“Equity has always been the key target for COVAX. Today’s outcome means that we can finally address equity in terms of coverage by helping close today’s vaccine equity gap and also in terms of access, by ensuring equity of access in the future. The commitment to multilateralism we saw today will continue to inspire us in our efforts to make people safe everywhere,” said Dr Seth Berkley, CEO of Gavi, the Vaccine Alliance.
DONOR AND PARTNER QUOTES
The Rt. Hon. Justin Trudeau, Prime Minister of Canada: “The work we are doing – together with the COVAX Facility and all ACT-Accelerator Pillars – is the best way to get vaccines to countries who need them most, and beat this pandemic.
I have been inspired by the generosity this pandemic has shown in us all. So, let’s continue on that path as we support our health systems, promote economic recovery, and eliminate the threat of COVID-19.”
H.E. Fumio Kishida, Prime Minister, Japan: “Today, as a further contribution for robustly supporting the achievement of equitable access to vaccines, taking into account the circumstances surrounding this replenishment and relevant efforts, Japan hereby pledges to contribute up to 500 million USD to COVAX in addition to the contribution of 1 billion dollars that it has already disbursed.
In order to deliver vaccines to every corner of the world, Japan will continue providing tailor-made support based on the needs of each country under the principle of human security.”
Dr Silvia Lutucuta, Minister of Health, Angola: “The threat of disruption to the global vaccine supply remains, as does the risk of new and potentially more dangerous variants emerging. I am calling on governments and donors to support COVAX to prevent countries like mine from falling behind in their vaccination efforts.”
Dr Werner Hoyer, President, European Investment Bank (EIB): “Accelerated access to innovative financing is critical to enable an effective response to the pandemic worldwide. As part of Team Europe, the EIB is putting together a new EUR 1 billion package to provide Gavi with the financial power and flexibility that is needed during an evolving pandemic.”
Scott Nathan, CEO of the United States International Development Finance Corporation (DFC): “DFC’s billion-dollar Rapid Financing Facility with Gavi will enable faster COVID vaccine purchase and delivery for lower-income countries, including of variant-adapted vaccines to respond to future shocks and surprises. It will allow Gavi to monetise pledges made to COVAX as soon as donors make them, for more immediate response times.”
Dr Richard Hatchett, CEO of the Coalition for Epidemic Preparedness Innovations (CEPI) [COVAX co-lead]: “It is clear that the pandemic is far from over, so there must be no room for complacency: Ending the pandemic globally must continue to be a priority. COVAX has proven its ability to get vaccines to those who need them. Now it urgently needs support to accelerate vaccinations in the global south, and to prepare for what the virus may throw at us next. Our collective global health security depends upon it.”
Dr Tedros Adhanom Ghebreyesus, WHO Director-General [COVAX co-lead]: “The COVID-19 pandemic is far from over. Transmission remains high, and vaccine coverage remains too low in too many countries. We can only end the acute phase of the pandemic by supporting all countries to vaccinate 70% of their populations, with priority given to health workers, older people, and other at-risk groups.
Investments in COVAX are not simply investments in vaccines. They’re investments in equity, in solidarity, in an inclusive global recovery, and a healthier, safer, fairer future for all of us.”
