Gavi, the Vaccine Alliance, helps vaccinate almost half of the world’s children against deadly diseases. Now, it’s taking on COVID-19 by co-leading COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator. Gavi’s board includes developing and developed countries, the World Health Organization, UNICEF, the World Bank, the Gates Foundation, vaccine manufacturers and civil society representatives.
In our latest episode of Leaders Moving Business Forward, Gavi’s General Counsel Jelena Madir explains how the organization is coordinating the COVAX Facility, the global risk-sharing mechanism for procurement and equitable distribution of COVID-19 vaccines:
COVAX is a project of huge scale, enormous complexity and significant legal risks.
Agreements with 150+ countries
Guarantees from countries and commercial banks
Advance purchase agreements with pharmaceutical companies
Procurement agreements with UNICEF and Pan American Health Organization
Financing agreements with multilateral development banks