• The Republic of Korea has announced a pledge of US$ 200 million to the Gavi COVAX Advance Commitment (Gavi COVAX AMC), with US$ 100 million to be provided in 2021 and an additional US$ 100 million to be provided in 2022

  • This pledge comes alongside Korean support for COVAX through producer SKBio, a key supplier to the AstraZeneca manufacturing network that has so far delivered 49 million doses to 85 economies

  • “An early expansion of vaccine supply is the most necessary short-term prescription to ensure equitable access to vaccines. The Republic of Korea pledges a contribution of a total of US$ 100 million this year, and in 2022 another US$ 100 million in the form of a combination of financial and in-kind contribution” – Moon Jae-in, President of the Republic of Korea

Geneva, 18 June 2021 – Showing a clear commitment to supporting equitable access to vaccines, the Republic of Korea announced a pledge of US$ 100 million in funding for the Gavi COVAX Advance Market Commitment (Gavi COVAX AMC), the mechanism that finances the procurement of COVID-19 vaccine doses for 92 low- and middle-income economies around the world. In addition, the South Korean Government pledged a further US$ 100 million to come in 2022.

This strong commitment comes alongside support to vaccine production, as the Republic of Korea’s SK Bioscience has been part of the AstraZeneca manufacturing network that has so far supplied over 49 million doses of vaccines to 85 countries and territories. With this new funding pledge, COVAX will be able to procure even more doses in 2021 and 2022 to help further equity and move towards ending the acute phase of the pandemic.

“An early expansion of vaccine supply is the most necessary short-term prescription to ensure equitable access to vaccines,” said Moon Jae-in, President of the Republic of Korea. “The Republic of Korea pledges a contribution of a total of US$ 100 million this year, and in 2022 another US$ 100 million in the form of a combination of financial and in-kind contribution.”

Commenting on this announcement, Prof. José Manuel Barroso, Chair of the Board of Gavi, the Vaccine Alliance, added: “The Republic of Korea has supported routine vaccination programmes through Gavi since 2010, and this new announcement significantly builds on that commitment and helps COVAX get more vaccines to people who need them. Over the past decade, we have seen Korea becoming a leading force in global health and a champion of multilateral collaboration. We applaud the leadership President Moon is showing through this pledge.”

Following recent commitments – including pledges of dose-sharing and funding announced at the G7 Summit hosted by U.K Prime Minister Boris Johnson, the Gavi COVAX AMC Summit hosted by Prime Minister Suga Yoshihide of Japan, the G20 Global Health Summit hosted by Prime Minister Draghi and President von der Leyen and the February 2021 virtual G7 Early Leaders’ Summit – the Gavi COVAX AMC has now raised more than US$ 9.7 billion in funding in total. Gavi calls on donor countries and manufacturers to help ensure doses can flow quickly to COVAX, and support global equitable access to vaccines now.

Notes to editors

About COVAX

COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator, is co-convened by the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi, the Vaccine Alliance Gavi) and the World Health Organization (WHO) – working in partnership with UNICEF as key implementing partner, developed and developing country vaccine manufacturers, the World Bank, and others. It is the only global initiative that is working with governments and manufacturers to ensure COVID-19 vaccines are available worldwide to both higher-income and lower-income countries.

Gavi’s role in COVAX

Gavi leads on procurement and delivery at scale for COVAX: designing and managing the COVAX Facility and the Gavi COVAX AMC and working with its traditional Alliance partners UNICEF and WHO, along with governments, on country readiness and delivery. As part of this role, Gavi hosts the Office of the COVAX Facility to coordinate the operation and governance of the mechanism as a whole, holds financial and legal relationships with 193 Facility participants, and manages the COVAX Facility deals portfolio: negotiating advance purchase agreements with manufacturers of promising vaccine candidates to secure doses on behalf of all COVAX Facility participants. Gavi also coordinates design, operationalisation and fundraising for the Gavi COVAX AMC, the mechanism that provides access to donor-funded doses of vaccine to 92 lower-income economies. As part of this work, Gavi provides funding and oversight for UNICEF procurement and delivery of vaccines to all AMC participants – operationalising the advance purchase agreements between Gavi and manufacturers – as well as support for partners’ and governments work on readiness and delivery. This includes tailored support to governments, UNICEF, WHO and other partners for cold chain equipment, technical assistance, syringes, vehicles, and other aspects of the vastly complex logistical operation for delivery. Gavi also co-designed, raises funds for and supports the operationalisation of the AMC’s no-fault compensation mechanism as well as the COVAX Humanitarian Buffer.

MEDIA CONTACTS

Evan O’Connell
+41 79 682 18 95
eoconnell@gavi.org

Meg Sharafudeen
+41 79 711 55 54
msharafudeen@gavi.org

Iryna Mazur
+41 79 429 36 71
imazur@gavi.org

Laura Shevlin
+ 41 79 529 92 87
lshevlin@gavi.org

Cirũ Kariũki
+41 79 913 94 41
ckariuki@gavi.org

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