At the summit of world leaders next week, the Group of Seven (G7) rich countries are expected to decide to launch a new program to provide vaccines to developing nations, according to a report on Saturday in Japan’s Yomiuri newspaper.
The World Health Organisation (WHO), the World Bank, and G20 countries like India will also join, it was stated, citing sources from the Japanese government.
The COVAX facility, supported by WHO and the Global Alliance for Vaccines and Immunization (GAVI), provided emerging nations with over 2 billion doses of coronavirus vaccine during the COVID-19 pandemic.
COVAX faced challenges in guaranteeing fair access, however, as wealthy countries prioritised vaccinations for their citizens, while insufficient storage facilities in poorer countries resulted in supply delays and the disposal of millions of doses that were close to expiration.
According to the publication, the new program aims to pool rainy-day funds for vaccine manufacturing and purchases, as well as investments in low-temperature storages and training of healthcare professionals in preparation for the next pandemic.
In order to counter the rising power of China and Russia, Japan, this year’s G7 summit chair, seeks to gain support from emerging nations on a variety of topics, including supply chains, food security, and climate change.