Joint Statement by the Heads of the World Bank Group, International Monetary Fund, World Health Organization, and World Trade Organization on the First Meeting of the Task Force on COVID-19 Vaccines, Therapeutics and Diagnostics for Developing Countries

IMF News, June 30, 2021

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Joint Statement by the Heads of the World Bank Group, International Monetary Fund, World Health Organization, and World Trade Organization on the First Meeting of the Task Force on COVID-19 Vaccines, Therapeutics and Diagnostics for Developing Countries

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Bibliographic details

• Published: June 30, 2021

Meeting purpose and context

• Press Release No. 21/201
• Date: June 30, 2021
• Conveners: Heads of the World Bank Group, International Monetary Fund, World Health Organization, and World Trade Organization.
• Purpose: First meeting of the Task Force on COVID-19 Vaccines, Therapeutics and Diagnostics for Developing Countries to track, coordinate, and advance delivery of COVID-19 health tools to developing countries and mobilize stakeholders and national leaders to remove critical roadblocks.

Key concerns highlighted

• Many countries are struggling with new variants and a third wave of COVID-19 infections.
• Limited availability of vaccines, therapeutics, diagnostics, and support for deliveries to developing countries.
• Urgent action needed to arrest the rising human toll due to the pandemic and to halt further divergence in the economic recovery between advanced economies and the rest.

Task Force mandate and activities discussed

• The Task Force was formed as a “war room” to:
  • Help track, coordinate and advance delivery of COVID-19 health tools to developing countries.
  • Mobilize relevant stakeholders and national leaders to remove critical roadblocks.
  • Support priorities set out by World Bank Group, IMF, WHO, and WTO including in the joint statements of June 1 and June 3, and in the IMF staff’s $50 billion proposal.
• At the first meeting, participants discussed:
  • The urgency of increasing supplies of vaccines, therapeutics, and diagnostics for developing countries.
  • Practical and effective ways to track, coordinate and advance delivery of COVID-19 vaccines to developing countries.

Calls to G20 (urgent first steps)

• The Task Force called on G20 countries to:

1. "embrace the target of at least 40 percent in every country by end-2021, and at least 60 percent by the first half of 2022," 2. "share more vaccine doses now, including by ensuring at least 1 billion doses are shared with developing countries in 2021 starting immediately," 3. "provide financing, including grants and concessional financing, to close the residual gaps, including for the ACT-Accelerator," and 4. "remove all barriers to export of inputs and finished vaccines, and other barriers to supply chain operations."

Transparency, readiness, and vaccine confidence actions

• To enhance transparency, the Task Force agreed to:
  • Compile data on dose requests (by type and quantity), contracts, deliveries (including through donations), and deployments of COVID-19 vaccines to low and middle-income countries.
  • Make the compiled data available as part of a shared country-level dashboard.
• Additional agreed steps:
  • Take steps to address vaccine hesitancy.
  • Coordinate efforts to address gaps in readiness so countries are positioned to receive, deploy and administer vaccines.

Contact

• IMF Communications Department, MEDIA RELATIONS
• PRESS OFFICER: Alistair Thomson
• Phone: +1 202 623-7100
• Email: MEDIA@IMF.org
• @IMFSpokesperson

Joint statement issued June 30, 2021.

References

• IMF COVID-19 Hub
• Policy Tracker
• Financial Assistance
• Questions & Answers
• The IMF and the World Trade Organization -- A Factsheet
• Press Releases
• PRESS CENTER
• proposal
• https://www.imf.org/en/home