COVAX is one of three pillars of the ‘Access to COVID-19 Tools (ACT) Accelerator’ launched by the European Commission, the World Health Organization (WHO), and France. It was launched in April 2020.
What is the need of COVAX Facility?
The COVAX Facility is required to increase the chances getting access to COVID-19 vaccines for the people of the participating countries.
Global Vaccine Summit
The Global Vaccine Summit was held virtually on June 4, 2020. It was hosted by the UK virtually. The summit was held to raise US$ 7.4 billion but raised over US$ 8.8 billion to fight against COVID-19 and immunize 300 million against diseases like polio measles, and diphtheria by 2025. UK is the top donor of the alliance which pledged £330 million per year over the next 5 years. During the summit, Prime Minister of India Narendra Modi had pledged USD 15-million as India’s contribution to Gavi. China recently joined the 172-country alliance.