Financing vaccine equity: funding for day-zero of the next pandemic
Oxford Review of Economic Policy
; 38(4):833-850, 2022.
Article
in English
| Web of Science | ID: covidwho-2190124
ABSTRACT
A lack of timely financing for purchases of vaccines and other health products impeded the global response to the Covid-19 pandemic. Based on analysis of contract signature and delivery dates in Covid-19 vaccine advance purchase agreements, this paper finds that 60-75 per cent of the delay in vaccine deliveries to low- and middle-income countries is attributable to their signing purchase agreements later than high-income countries, which placed them further behind in the delivery line. A pandemic Advance Commitment Facility with access to a credit line on day-zero of the next pandemic could allow low- and middle-income countries to secure orders earlier, ensuring a much faster and equitable global response than during Covid-19. The paper outlines four options for a financier to absorb some or all of the risk associated with the credit line and discusses how the credit would complement other proposals to strengthen the financing architecture for pandemic preparedness, prevention, and response.
Full text:
Available
Collection:
Databases of international organizations
Database:
Web of Science
Topics:
Vaccines
Language:
English
Journal:
Oxford Review of Economic Policy
Year:
2022
Document Type:
Article
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