With more than 189 economies involved, representing around 90% of the global population, COVAX is the biggest multilateral effort since the Paris Agreement. At a time when so many governments are facing such an immediate and existential threat, to come together and work towards a common solution that benefits everyone is simply unprecedented and a remarkable show of solidarity. But in truth, such support only exists because COVAX works to everyone’s best interest. For the 35 or so wealthy governments and economies that can afford to negotiate bilateral deals with manufacturers to secure vaccine doses for their citizens, it is an insurance policy increasing their chances of getting efficacious COVID-19 vaccines, even if those deals should fail. But for the rest of the world, it is a lifeline, providing doses to people in countries, rich or poor, who would otherwise have little or no access to these vaccines.
However, even though COVAX was designed to benefit everyone, we must remember that it was created with the world’s poorest people in mind. While the COVAX Facility provides all participating countries with access to the world’s largest and most diverse portfolio of COVID-19 vaccines and ensures that manufacturers are ready to produce doses at scale the moment vaccines are ready, the Gavi COVAX Advance Market Commitment (AMC) is there for low- and middle-income countries. Without it, the governments of these countries may go without or be forced to take desperate measures, taking out commercial loans to procure less effective or less than appropriate vaccines that are more expensive for their citizens. Such acts could allow the virus to continue to spread while pushing these already struggling countries further into debt.
That is why we need the AMC to succeed. Thanks to a massive show of multilateralism, we have already secured the USD 2 billion needed to jump-start the deals. But if COVAX is to achieve its initial goal of making 2 billion doses of COVID-19 vaccines available by the end of 2021 – with nearly a billion of these doses going to the 92 poorest low- and middle-income countries – then we need to secure the at least USD 5 billion needed to finish the job. That means ensuring that the AMC is an official development assistance (ODA) priority.
Given the devastating impact COVID-19 has already had on low- and middle-income countries, demand for ODA has arguably never been greater. But then, all the more reason to target it at areas where it will have the largest and most enduring impact, such as the Gavi COVAX AMC, because the response to this crisis is already costing low- and middle-income countries USD 52 billion every four weeks. That is not sustainable until we stop the virus in its tracks through simultaneous investments that will ensure that people in all countries have access to safe and effective vaccines. This will not only help bring the acute phase of the current pandemic to the swiftest possible end, but will also build resilience against the next one. Because there will be a next one. That is an evolutionary certainty.