How America’s Financial Clout Is A Funding Gamechanger For COVAX [Infographic]

President Biden has pledged to ramp up funding for COVAX in a major reversal of his predecessor’s isolationist America First policy. COVAX is a financial initiative led by the Global Alliance for Vaccines and the World Health Organization aimed at equitable Covid-19 vaccine access for 92 low/middle income governments through donations. During a virtual summit on Friday, Biden told G7 leaders that the U.S. would pledge around $4 billion to the initiative, a move which is also reportedly aimed at mobilizing other governments to start contributing.

The U.S. is pledging $2 billion up front while $500 million will be included when other donor pledges are fulfilled and initial doses are delivered. A further $2 billion will be contributed over the coming two years. Trump was notable in withdrawing from the WHO and signing an executive order prioritizing vaccines for Americans rather than other countries. While Biden’s approach is different and has seen the U.S. re-commit to the WHO and join COVAX, senior officials have still made it clear that the U.S. will only consider donating vaccines to other governments once enough supply has been secured to protect every American.

In addition to assisting poorer countries, administration officials have said that financial support for COVAX will benefit Americans as it will help reduce the risk of more dangerous mutations emerging that could prolong the pandemic. As of December 2020, the United Kingdom was the biggest donor to COVAX with more than $730 million pledged. It has now been displaced by the massive U.S. financial injection along with a substantial contribution of just over $1 billion from Germany, according to data reported by the Global Vaccine Alliance.

It isn’t just governments that are contributing and COVAX has received considerable funding boosts from a range of different foundations, corporations and organizations. The Bill and Melinda Gates Foundation is among the largest non-government donors, contributing over $156 million. By the end of 2021, COVAX is aiming to fairly distribute two billion doses to the countries that need them most.

*Click below to enlarge (charted by Statista)