Covax and the World Bank have announced that they will accelerate Covid-19 vaccine supply for developing countries through a new financing mechanism that builds on Gavi’s newly designed Advance Market Commitment (AMC) cost-sharing arrangement.

This mechanism will allow AMC countries to purchase doses beyond the fully donor-subsidised doses they are already receiving from Covax, a World Bank press release said.

Covax will now be able to make advance purchases from vaccine manufacturers based on aggregated demand across countries, using financing from the World Bank and other multilateral development banks.

Participating developing countries will have greater visibility of available vaccines, quantities available, and future delivery schedules, enabling them to secure doses earlier, and prepare and implement vaccination plans more effectively.