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UK Participation in International Vaccines Procurement Initiative (COVAX)

14 October 2020

Proposing MP
Alok Sharma Con
Reading West
Type
Written Ministerial Statement
Department
Department for Business, Energy and Industrial Strategy
View on Parliament.uk -->

At a Glance

Issue Summary

The UK has joined the global COVAX initiative to expedite vaccine discovery, manufacture, and fair distribution.

Action Requested

The UK has contributed £71 million to the Self-Financing Facility of COVAX for an option to buy vaccines for up to 20% of its population. Additionally, the Prime Minister announced at the UNGA that the UK will allocate £500 million in ODA funding for vaccine procurement and delivery in low-income countries, including a match commitment.

Key Facts

  • The UK has joined COVAX, contributing £71 million to the Self-Financing Facility.
  • This contribution secures an option to buy vaccines for up to 20% of the UK population (13.5 million people).
  • The UK will allocate £500 million in ODA funding to support vaccine procurement and delivery in low and lower middle-income countries, matching £1 for every $4 committed by others.
  • The World Bank has proposed an ambitious $12 billion plan for vaccine financing, making up to $6 billion available to middle-income countries and $6 billion to low and lower-middle income countries.
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