Daily Times

The World Bank has announced that it is providing over $4 billion for the purchase and deployment of Covid-19 vaccines for 51 developing countries, including Pakistan.

In a statement issued on Thursday, the WB said that more than half of the financing comes from the International Development Association (IDA), the Banks fund for the worlds poorest countries, and is on grant or highly concessional terms. This financing is part of the Banks commitment to help low- and middle-income countries acquire and distribute vaccines and strengthen their health systems, said the statement.

The World Bank reiterated its call to governments, pharmaceutical companies, and organisations involved in vaccine procurement and delivery to help increase transparency and build greater public information regarding vaccine contracts, options and agreements; vaccine financing and delivery agreements; and doses delivered and future delivery plans.

It asked those countries anticipating excess vaccine supplies in the coming months to release their surplus doses and options as soon as possible, in a transparent manner, to developing countries with adequate distribution plans in place. Since the start of the Covid-19 pandemic, the World Bank Group has approved more than $150 billion to fight the health, economic, and social impacts of the pandemic. Since April 2020, the Bank has scaled up its financing by over 50 percent, helping more than 100 countries meet emergency health needs, strengthening pandemic preparedness, while also supporting countries as they protect the poor and jobs, and jump-starting a climate-friendly recovery.