World Bank approves $12bn to increase COVID vaccine accessibility

The World Bank has approved $12bn in financing to help developing countries buy and distribute coronavirus vaccines, tests and treatments. The $12bn “envelope” is part of a wider World Bank Group package of up to $160bn to help developing countries fight the COVID-19 pandemic, the bank said in a statement late on Tuesday. Its implementation will be in support of efforts being led by the World Health Organization and COVAX, and will offer recipient countries a number of options with regards to acquiring and delivering vaccines. The World Bank said its new funding would help “signal to the research and pharmaceutical industry that citizens in developing countries also need access to safe and effective COVID-19 vaccines”.