World Bank seeks approval for $12 billion COVID-19 vaccine financing plan

World Bank seeks approval for $12 billion COVID-19 vaccine financing plan

World Bank President David Malpass told Reuters in an exclusive interview that he is seeking board approval for a $12 billion COVID-19 vaccine financing plan as part of the bank’s $160 billion coronavirus aid.

Malpass said the World Bank plan aimed to put poor and middle-income countries, where the virus is spreading most rapidly.

“Our goal is to alter the course of the pandemic for the low- and middle-income developing countries,” Malpass said. “This is a market signal to the manufacturers that there will be financing available for the developing countries and there will be demand. We will begin asking the manufacturers to begin creating allocations for these countries.”

Malpass said the World Bank also was asking wealthy countries that have “over-reserved” more doses than they will ultimately need to release those doses to poorer countries.

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