Linklaters advises COVAX on EUR 500 million financing to support global Covid-19 vaccination initiative
Linklaters has advised Gavi, the Vaccine Alliance on the EUR 500 million financing package from the European Union to support Gavi’s global COVAX Covid-19 vaccination initiative. The firm has advised Gavi throughout the conception, design and implementation of the COVAX Facility in all its phases. This global health initiative is pooling the resources of the world’s developed economies to finance the research & development, procurement and distribution of a Covid-19 vaccine, in an equitable and fair manner, across the world to developed and developing countries alike.
Aisling Zarraga, Partner and Co-head, Healthcare Sector at Linklaters, said:
“The pandemic has changed the world as we know it with long lasting impact on communities and economies. An effective, and equitable, response to these challenges requires coordination at the highest level worldwide. We are proud to have supported Gavi throughout this global initiative to not only roll out the vaccine, but also ensure that no country or region is left behind due to the want of resources.”
The Linklaters team for this aspect of the COVAX project was led by Partners Aisling Zarraga and Adam Fogarty. Key members of the team included Lucy Sidey (Managing Associate) and Ali Fraser (Managing Associate).
The new EUR 500 million European Union support will help COVAX reserve and accelerate doses for 92 low and middle-income economies. Agreements between the European Union and partner countries across Africa, Asia, the Caribbean and Pacific, as well as the eastern and southern neighbourhood, already exist under the European Fund for Sustainable Development. Vaccines will be procured and delivered by UNICEF and the Pan-American Health Organisation (PAHO) on behalf of COVAX.
Gavi, the Vaccine Alliance is a public-private partnership that helps vaccinate half the world’s children against some of the world’s deadliest diseases. Since its inception in 2000, Gavi has helped to immunise a whole generation – over 822 million children – and prevented more than 14 million deaths, helping to halve child mortality in 73 developing countries. The Vaccine Alliance brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry, technical agencies, civil society, the Bill & Melinda Gates Foundation and other private sector partners.