Billions of dollars that remain in the COVAX initiative, aimed at providing COVID-19 vaccines to the world’s poorest, could be redirected to prepare for future pandemics or to support vaccine manufacturing in Africa, according to the scheme’s partners.
Implemented by Gavi, the Vaccine Alliance, the World Health Organization (WHO), and the Coalition for Epidemic Preparedness Innovations (CEPI), COVAX has $2.6 billion remaining as the pandemic’s emergency phase comes to a close, as per documents seen by Reuters and insider sources.
The initiative is scheduled to conclude at the end of this year, although some of its work will continue. As the demand for COVID-19 vaccines declines, the partners are now determining the most effective use of the remaining funds—a substantial amount in the global health context. Donors who originally pledged the money are also involved in this decision-making process.
About $600 million was allocated as a “contingency” fund in case the pandemic resurged. The remaining $2 billion was returned to COVAX after pharmaceutical companies agreed to reimburse deals made for vaccines during the peak of the pandemic.
“This money was intended as a contingency measure so that we could respond to the twists and turns of the pandemic,” stated Marie-Ange Saraka-Yao, Gavi’s head of resource mobilization. “We do not want the funds to remain idle.”
Around $700 million is expected to be allocated to an ongoing COVID-19 vaccination program in Gavi-supported countries for 2024 and 2025. Gavi’s board will discuss this option during the current week. Another portion of the funds will be used for booster shots this year and next.
Saraka-Yao mentioned that during a meeting in March, donors—including wealthy nations like the United States and Germany, as well as philanthropic organizations like the Bill and Melinda Gates Foundation—were asked if they wanted the remaining money back. None did. The donors and the WHO were unavailable for immediate comment.
A spokesperson from CEPI stated that no decision had been made regarding the funds, but it is “prudent to remain prepared” for potential changes in the COVID-19 situation and future pandemics.
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