Multilateral leaders unveil new Global Database to ease supply of COVID-19 Tools

By Arya M Nair, Official Reporter
  • Follow author on
Covid Vaccine
Representational image

A Task Force headed by the International Monetary Fund, the World Bank Group, the World Health Organization, and the World Trade Organization has launched a new website that includes the first phase of a global database and country dashboards on vaccines, therapeutics, and diagnostics to guide their work and advocacy.

According to the IMF, the database and country-by-country dashboards on vaccinations, medicines, and diagnostics, which also build on the IMF-WHO COVID-19 Vaccine Supply Tracker, are intended to draw international attention to the issue and mobilize efforts to get COVID-19 supply to developing, low and low-middle income countries.

Less than 5 percent of vaccine doses that were pre-purchased by or for low-income countries have been delivered. Our common target is for at least 40 percent of people in low and low-middle-income countries to be vaccinated by the end of 2021, stated the organizations.

Manufacturers of COVID-19 vaccines are being urged to step up their efforts to increase vaccine production, while governments in developing countries are asked to lower or eliminate barriers to the export of vaccines and all components used in their production and deployment.

Over $35 billion in grants are needed to end the pandemic, according to the IMF’s $50 billion proposal, which is in line with WHO, WTO, IMF, and World Bank Group priorities, with just a third of this financed to date.

According to the IMF, unequal access to vaccines and the advent of COVID-19 variations might block global economic recovery and wipe away $4.5 trillion in global GDP by 2025.

IMF welcomed the recent partnership of COVID-19 Vaccines Global Access (COVAX) and African Vaccine Acquisition Trust (AVAT) with the World Bank, noting that World Bank financing is now available to support the purchase and deployment of doses secured by both the vaccine-distributing networks.

Related: The global growth rate for this year would remain at 6%; IMF chief