What is it?
- The COVAX facility seeks to accelerate the development and production of coronavirus vaccines through pooling in resources from the member countries, and then ensure that it is equitably distributed amongst them.
- COVAX is led by the World Health Organization (WHO), the Coalition for Epidemic Preparedness Innovations (CEPI) and GAVI, the Vaccine Alliance.
- COVAX supports research and development of new vaccines by investing in them and negotiating prices with pharmaceutical companies. The goal of COVAX is to have 2 billion doses to distribute by the end of 2021, which should be enough to help countries vaccinate 20% of their populations and end the acute phase of the pandemic.
Why in News?
- China has officially signed an agreement to join the World Health Organization-led COVAX facility.
- China is the biggest economy to back the initiative so far. Neither the United States nor Russia has signed up.
- Recently, the WHO informed that it is in talks with India about joining the COVAX.
- The Coalition for Epidemic Preparedness Innovations (CEPI) is a global partnership between public, private, philanthropic, and civil society organisations to develop vaccines to stop future epidemics.
- It was launched in Davos in 2017.
About GAVI Alliance
- The GAVI Alliance (formerly the Global Alliance for Vaccines and Immunisation) is a global health partnership of public and private sector organizations dedicated towards creating equal access to new and underused vaccines for children living in the world’s poorest countries.
- GAVI’s strategy supports its mission to save children’s lives and protect people’s health by increasing access to immunisation in poor countries.
- Its partners provide funding for vaccines and intellectual resources for care advancement. They contribute, also, to strengthening the capacity of the health system to deliver immunisation and other health services in a sustainable manner.
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