Government Decides to Contribute $10 Million to Support COVID-19 Vaccines for Developing Countries

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] The Ministry of Foreign Affairs announced on the 28th that the Korean government has decided to contribute 10 million dollars to the COVAX Advance Market Commitment (COVAX AMC), a pioneering purchase commitment mechanism launched by Gavi, the Vaccine Alliance, to supply COVID-19 vaccines to developing countries.

The government had previously decided to pre-purchase COVID-19 vaccines equivalent to 20% of the total population of Korean citizens through the COVAX Facility, and through this COVAX AMC contribution, plans to support vaccines for developing countries as well. The COVAX Facility is a joint vaccine procurement and distribution mechanism promoted by the World Health Organization (WHO), the Coalition for Epidemic Preparedness Innovations (CEPI), and Gavi, the Vaccine Alliance, aiming for equitable access to COVID-19 vaccines.

COVAX AMC supports a total of 92 developing countries, including all countries with a Gross National Income (GNI) per capita of 4,000 dollars or less, and is expected to greatly contribute to the equitable distribution of COVID-19 vaccines in terms of scope and scale. The government has actively participated in international solidarity and cooperation to ensure that no one is left behind in the process of overcoming COVID-19.

An official from the Ministry of Foreign Affairs explained, "This COVAX AMC support is expected to contribute to the equitable distribution of safe and effective vaccines worldwide as a public good for humanity, thereby accelerating the end of COVID-19," adding, "The government plans to continue actively participating in the international community's response to COVID-19."

This content was produced with the assistance of AI translation services.