The failure of the facility could leave people in poor nations without any access to COVID-19 vaccines until 2024, one of the documents says. The risk of failure is higher because the scheme was set up so quickly, operating in "uncharted territory", the report says. "Therefore it must either be mitigated through contract negotiation or through a Gavi risk absorption layer that is carefully managed by a management and governance structure." The World Bank and other multilateral financial institutions are offering cheap loans to poor countries to help them buy and deploy vaccines through COVAX. But even under the best financial conditions, COVAX could still face failure, because of disproportionate financial risks caused by its complex deal-making process.

Source: bd News24 December 16, 2020 12:11 UTC