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WHO chief calls for solidarity in financing, ensuring equal access to future COVID-19 vaccine

13 August 2020 - The World Health Organization (WHO) said on Thursday that six months after first sounding the international alarm over COVID-19, the UN agency is now intensely focused on shepherding global vaccine candidates through the necessary trials, and guaranteeing rapid, fair and equitable access to them for all countries.

With the ripple effects of the pandemic upending people's lives, WHO Director-General Tedros Adhanom Ghebreyesus said that to move forward, "the best bet is to do it together", as he briefed reporters from Geneva on the latest developments.

Phases two and three

Among them, the Access to COVID-19 Tools (ACT) Accelerator, launched in April, has shown results, Tedros said, with nine vaccine candidates in the COVAX portfolio now advancing through Phase 2 or 3 trials.

The portfolio, already the broadest in the world, is expanding, he added. Countries representing 70 per cent of the global population have registered or expressed interest in being part of the initiative.

In terms of therapeutics, he said the first proven therapy for severe COVID-19, dexamethasone, was announced in June and is now scaling up. More than 50 tests are in evaluation and new evidence has been generated around rapid antigen detection tests that could be "game changing".

IMF: Pandemic to cost $12 trillion over two years

Stressing that the ACT Accelerator is the only global framework for ensuring the fair and equitable allocation of COVID-19 tools, he said that to succeed, it must be properly financed.

The International Monetary Fund (IMF) estimates the pandemic is costing $375 billion a month and predicts a $12 trillion cumulative loss to the global economy over two years. The G-20 group of leading economies alone, has mobilized more than $10 trillion in fiscal stimulus, to treat and mitigate the consequences of the pandemic – three and a half times what the world dispensed to address the global financial crisis of 2008.

ACT Accelerator, a bargain

By contrast, funding the ACT Accelerator will cost a "tiny fraction" compared to the alternative, where economies retract further and require continued fiscal stimulus packages, Tedros said.

Before spending another $10 trillion on the consequences of the next wave, he said the world will need to spend at least $100 billion on new tools, especially any new vaccines that are developed.

The most immediate need is $31.3 billion for the ACT Accelerator – the only up-and-running initiative that brings together all the global research and development, manufacturing, regulatory stipulations, purchasing and procurement needed, to end the pandemic.

Spread the risk, share the reward

"Picking individual winners is an expensive risky gamble," he said. "The ACT Accelerator enables Governments to spread the risk and share the reward."

To be sure, development of vaccines is long, complex, risky and expensive, Tedros said, noting that the vast majority fail in the early stages.

The world needs multiple vaccine candidates to maximize the chances of finding a winner that works.