The Group of Seven (G7) countries are set to establish a new program to distribute vaccines to impoverished and developing nations. The initiative is expected to be announced during an upcoming summit meeting. The move comes in response to the challenges faced by the COVAX vaccine facilities, which struggled to ensure equitable access to vaccines during the COVID-19 pandemic.
The COVAX program, supported by WHO and GAVI, supplied nearly 2 billion doses of COVID-19 vaccines to 146 countries. However, it faced many setbacks as wealthier nations prioritized their citizens, and insufficient storage facilities in poorer countries resulted in delays and the wastage of expiring doses.
The new program aims to address these issues by raising emergency funds for vaccine production and procurement. It also seeks to invest in low-temperature storage and provide training for health workers to prepare for future global pandemics. Alongside the G7 nations, G20 countries like India and international organizations such as the World Health Organization (WHO) and the World Bank will also participate in the new vaccines distribution program.
The G7 finance and health ministers called for the establishment of a new global financing framework to swiftly and efficiently deploy funds during outbreaks. Through collaboration with the WHO and the World Bank, which manages the pandemic fund, the G7 will explore innovative funding schemes leading up to the August G20 finance and health ministers meeting in India.
The goal of this is to create a robust financing mechanism that can rapidly respond to future outbreaks and ensure timely access to essential resources. By working together, the G7 countries aim to strengthen global health security, promote equitable vaccine distribution, and reinforce the capacity of low- and middle-income countries in addressing public health emergencies.
Source : IDXChannel