The G7 nations, comprising Britain, Canada, the European Union, France, Germany, Italy, Japan and the United States, are planning to establish a new program aimed at distributing vaccines to developing countries.
This initiative, which will also involve G20 nations like India, as well as international groups such as the World Health Organization (WHO) and the World Bank, is expected to be discussed at next week’s summit of G7 leaders.
The move comes after the COVAX facility, backed by WHO and the Global Alliance for Vaccines and Immunization (GAVI), faced challenges in ensuring equitable access to vaccines during the COVID-19 pandemic, with wealthy nations prioritizing shots for their own citizens.
The new program seeks to pool funds for vaccine production and purchases, as well as invest in low-temperature storage facilities and health worker training to better prepare for future pandemics. Japan, which currently chairs the G7 meetings, hopes to build support from emerging nations on various issues, including supply chains, food security, and climate change.
G7 finance ministers also met over the weekend and agreed to offer aid to low- and middle-income countries to help increase their participation in supply chains for energy-related products.
In a statement, G7 finance and health ministers called for a new global financing framework to quickly and efficiently deploy necessary funds in response to outbreaks without accumulating idle cash. This new program is expected to be further explored at an upcoming meeting of G20 finance and health ministers in India in August.