At the June 4, 2020 at the virtual Global Vaccine Summit pledging event, Gavi launched the Gavi COVAX AMC as an “investment opportunity” and first building block of the COVAX Facility. A required “financial mechanism” so that the world’s poorest countries will get access to COVID-19 vaccines. It required $2 billion to starting investment. [1]
Gavi coordinated and raised funds for the COVAX AMC, an innovative financing instrument that supported the participation of 92 lower-income economies in the COVAX Facility.
“The goal is by the end of 2021 to deliver two billion doses of safe, effective vaccines to all participating countries including the 92 AMC-eligible economies. Once a vaccine has been approved by regulatory agencies and/or prequalified by the WHO, the COVAX Facility will then purchase these vaccines with a goal to try and initially provide doses for an average of 20% of each country’s population, focusing on health care workers and the most vulnerable groups.”
- The COVAX facility documents were released August 2020
- On top of 2020 funding, more pledges were made to COVAX initiative at 2021 G7 summit
- COVAX AMC 92 framework
- Gavi plan to push COVID-19 vaccines into 2024-25
- By 2024 Gavi has raised more than US$12 billion in donor funding for the AMC