Published: 22nd September 2021
What the FAQ: What is the COVAX initiative under which India will be exporting COVID vaccines in October?
Under COVAX, vaccines would then be distributed globally in a way that every country gets an equitable share proportionate to their population
Just two days after India announced its decision to resume its global vaccine distribution programme, the World Health Organisation (WHO) chief Tedros Adhanom Ghebreyesus expressed his gratitude to Health Minister Mansukh Mandaviya. Ghebreyesus said, “Thank you Health Minister Mansukh Mandaviya for announcing India will resume crucial COVID vaccine shipments to COVAX in Oct. This is an important development in support of reaching 40 per cent vaccination target in all countries by the end of the year.” The Vaccine Maitri initiative, through which 6.63 crore doses were exported, came to a halt in May as the country was fighting the second wave.
We take a look at the COVAX initiative and what it means for you and me.
What is COVAX?
COVAX is a collaboration between the WHO, Gavi-the Vaccine Alliance, and UNICEF. It was set up in April of 2020, during the initial time of the COVID pandemic, for equitable distribution of vaccines amongst countries.
How does the COVAX initiative work?
The idea is that COVAX would pre-purchase huge quantities of vaccines from the major manufacturers. Under COVAX, these vaccines would then be distributed globally in a way that every country gets an equitable share proportionate to their population.
Who is it supposed to benefit?
The bulk-purchasing program would allow smaller nations to get vaccines at the same price as larger countries. About 92 third-world countries are expected to get vaccines for free through COVAX. Almost all countries have signed up to COVAX.
Where does it get funding from?
COVAX gets money from wealthy member countries. It also gets direct support from private organisations and organisations such as the World Bank.