The World Bank is awaiting the approval of the board of directors on a US $ 12 billion coronavirus vaccine financing plan to help poor and developing countries obtain adequate doses of the vaccine when it is produced in the next few months.
According to World Bank President David Malpass, the plan was implemented to help countries obtain and distribute vaccines earlier to frontline workers and increase vaccine production globally.
He said the consideration of the plan will only be known early next month.
Global competition in the production of coronavirus vaccines intensified earlier after developed countries managed to obtain much-needed supplies.
Malpass added that it will only give priority to poor and developing countries that are facing the serious spread of Covid-19 to ensure they have sufficient funds to obtain supplies and set up a vaccine distribution system to meet future demand.
He further explained that without the supply of doses in advance, it will cause the spread of the epidemic to become uncontrollable and most of the countries will face economic crisis, thus resulting in poverty.
Malpass also stated that he is currently in discussions to convince all countries that a fair distribution of vaccines is important in providing better results to the world.
The plan will provide grants or loans to certain countries and will be able to select any vaccine that meets the security criteria, including approval from various highly respected regulatory bodies such as in the United States (US), Canada, Japan and some European countries.
