Washington : US President Joe Biden will on Friday pledge USD 4 billion to the global COVID-19 vaccine alliance, COVAX, and also call on G7 member countries to prioritise a sustainable health security financing mechanism "aimed at catalysing countries to build the needed capacity to end this pandemic and prevent the next one".
G7 is a grouping of the UK, Canada, France, Germany, Italy, Japan, the USA and the European Union (EU).
According to an official statement by the White House, the US will contribute an initial USD 2 billion to Gavi, the Vaccine Alliance for the COVAX Advance Market Commitment, during the virtual meeting with G7 members.
"The US will take a leadership role in galvanising further global contributions to COVAX by releasing an additional USD 2 billion through 2021 and 2022, of which the first USD 500 million will be made available when existing donor pledges are fulfilled and initial doses are delivered to Advance Market Commitment (AMC) countries," the statement said.
Using money appropriated by a bipartisan Congressional vote in December 2020, the United States will provide an initial USD 2 billion contributions to Gavi, the Vaccine Alliance for the COVAX Advance Market Commitment, the innovative financing instrument of the COVAX Facility, which supports access to safe and effective vaccines for 92 low- and middle-income economies, it added.
Biden will also call on the G7 member countries to support global coronavirus vaccination programme.
"He will also call on G7 partners to prioritize a sustainable health security financing mechanism aimed at catalysingcountries to build the needed capacity to end this pandemic and prevent the next one," the White House said.
At the G7 meeting, Biden will also reaffirm the US' commitment to global health security and advancing the Global Health Security Agenda.