WHO says only $35 billion needed to end acute phase of COVID-19 in the world

949FollowersFollow

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available to all.  

The World Health Organization (WHO) says $35 billion is needed to end the acute phase of COVID-19 pandemic in the world through the ACT-Accelerator initiative.

The ACT-Accelerator’s goal is to develop new tools, produce and deliver 2 billion vaccine doses, 245 million treatments and 500 million diagnostic tests over the next year.

It is the only global initiative offering a solution to speed up the end of the COVID-19 pandemic.

[read_more id="2" more="Read full article" less="Read less"]

Speaking at his regular press conference in Geneva on Friday, the WHO Director General Tedros Adhanom Ghebreyesus said although $35 billion is a lot of money, it is what is spent on cigarettes every two weeks.

“US$35 billion is a lot of money. But in the context of arresting a global pandemic and supporting the global economic recovery, it’s a bargain.

“To put it in perspective, US$35 billion is less than 1% of what G20 governments have already committed to domestic economic stimulus packages. Or to put it another way, it’s roughly equivalent to what the world spends on cigarettes every 2 weeks,” said Tedros Adhanom Ghebreyesus.

He said of the US$35 billion, US$15 billion is needed immediately to fund research and development, scale up manufacturing, secure procurement and strengthen delivery systems.

Launched on April 24, 2020, the ACT-Accelerator combines public and private sector expertise and institutions from around the world to accelerate the development, regulatory approval, scale-up, delivery and equitable allocation of COVID-19 tests, treatments and vaccines.

The WHO argues that with the largest portfolio of COVID-19 tools in the world, investing in the ACT-Accelerator increases the probability of being able to access the “winning candidate” and hedges the risk that countries that have already entered individual bilateral agreements end up with products that are not viable.

Below are some reasons to invest in the initiative, according to the WHO

  • The global economy is expected to contract by US$7 trillion in 2020 as a result of the pandemic. ACT-Accelerator’s financing gap is US$35 billion. Fully financing the ACT-Accelerator to help shorten the duration of the crisis would pay back this investment in less than 36 hours once global mobility and trade are restored.
  • ACT-Accelerator total funding needs represent less than 1% of what G20 governments have already committed to domestic economic stimulus packages. While many countries have made significant investments in domestic R&D and on domestic economic stimulus packages, these investments will not on their own address severe COVID-19 disease, the root cause of the crisis, and the key to restarting all aspects of their economies.
  • A lack of innovation for and sufficient access to effective tests, treatments and vaccines would hold up the recovery for all countries.

In just 5 months, the ACT-Accelerator has made significant progress, as evidenced by the status report, published today:

  • The Diagnostics pillar is evaluating more than 50 diagnostic tests
  • The Therapeutics pillar is analysing 1,700+ clinical trials for promising treatments and has secured Dexamethasone for up to 4.5 million patients in lower-income countries
  • COVAX vaccine facility – the largest and most varied portfolio of COVID-19 vaccines globally – currently contains 9 vaccine candidates and a total of 156 economies, representing nearly two-thirds of the global population, are now committed to or eligible to receive vaccines through the Facility       

Leaders will next meet on 30th September at a high-level side event during the United Nations General Assembly to discuss the work of the ACT-Accelerator, and the financial commitments needed.

What the WHO Director-General’s said in his remarks at the media briefing on COVID-19 on September 25, 2020, on the Act-Accelerator

  • Today, WHO and our partners are publishing a detailed strategic plan and investment case for the urgent scale-up phase of the ACT Accelerator, building on the success of the start-up phase. 
  • By the end of next year, the ACT Accelerator aims to deliver 2 billion doses of vaccine; 245 million courses of treatment; and 500 million diagnostic tests to low- and middle-income countries. 
  • The number of countries joining the COVAX facility grows every day. As of today, 67 high-income countries have formally joined and another 34 are expected to sign, joining 92 lower-income countries who are eligible for financial support through Gavi. 
  • The current financing gap for the ACT Accelerator stands at 35 billion dollars. Of the 35 billion dollars, 15 billion dollars is needed immediately to exploit the ACT-A progress to fund research and development, scale up manufacturing, secure procurement and strengthen delivery systems.

————–

Good morning, good afternoon and good evening.

With the northern hemisphere flu season approaching, and with cases and hospitalizations increasing, many countries find themselves struggling to strike the right balance between protecting public health, protecting personal liberty and protecting their economies.

So-called lockdowns and the impact on global travel and trade have already taken such a heavy toll.

The global economy is expected to contract by trillions of US dollars this year.

Many countries have poured money into domestic stimulus packages. But these investments will not on their own address the root cause of the economic crisis – which is the disease that paralyses health systems, disrupts economies and drives fear and uncertainty.

We continue to urge countries to focus on four essential priorities.

First, prevent amplifying events.

Second, protect the vulnerable.

Third, educate, empower and enable communities to protect themselves and others, using every tool at their disposal.

And fourth, get the basics right: find, isolate, test and care for cases, and trace and quarantine their contacts.

This is what works.

Effective vaccines, diagnostics and therapeutics will also be vital for ending the pandemic and accelerating the global recovery.

But these life-saving tools will only be effective if they are available for the most vulnerable equitably and simultaneously in all countries.

The Access to COVID-19 Tools Accelerator is the best bet for speeding up the development of the tools we need to save lives as fast as possible, and to make them available for as many as possible, as equitably as possible.

Today, WHO and our partners are publishing a detailed strategic plan and investment case for the urgent scale-up phase of the ACT Accelerator, building on the success of the start-up phase.

The investment case illustrates some of the considerable economic benefits from accelerating the development and deployment of tools to rapidly reduce the risk of severe COVID-19 disease globally.

By the end of next year, the ACT Accelerator aims to deliver 2 billion doses of vaccine; 245 million courses of treatment; and 500 million diagnostic tests to low- and middle-income countries.

Today’s status report shows that in just 5 months, the ACT Accelerator has made remarkable progress.

The diagnostics pillar is evaluating more than 50 tests, including rapid and accurate diagnostics, and we expect to have more news on that next week.

The therapeutics pillar is analysing more than 1,700 clinical trials for promising treatments, and has secured courses of dexamethasone for up to 4.5 million patients in lower-income countries – the only medicine shown to reduce the risk of death so far.

And COVAX – the largest and most varied portfolio of COVID-19 vaccines globally – is supporting the development of 9 vaccines, with several more in the pipeline.

The number of countries joining the COVAX Facility grows every day. As of today, 67 high-income economies have formally joined and another 34 are expected to sign, joining 92 lower-income countries who are eligible for financial support through Gavi.

Investing in COVAX increases the probability of being able to access the best vaccine and hedges the risk that countries that have entered into bilateral agreements end up with products that are not viable.

The ACT Accelerator is an unprecedented global effort.

Of course, realizing its vision needs investment.

The current financing gap for the ACT Accelerator stands at US$35 billion.

US$35 billion is a lot of money. But in the context of arresting a global pandemic and supporting the global economic recovery, it’s a bargain. To put it in perspective, US$35 billion is less than 1% of what G20 governments have already committed to domestic economic stimulus packages. Or to put it another way, it’s roughly equivalent to what the world spends on cigarettes every 2 weeks. Of the US$35 billion, US$15 billion is needed immediately to fund research and development, scale up manufacturing, secure procurement and strengthen delivery systems.

Normally these steps are done sequentially. We’re doing them all at the same time, so that as soon as a product is ready to go, we can get it to the people who need it immediately.

We are not asking for an act of charity. We are asking for an investment in the global recovery.

The economic benefits from restoring international travel and trade alone would repay this investment very quickly.

Next Wednesday, world leaders will meet virtually for a high-level side event during the United Nations General Assembly to discuss the work of the ACT Accelerator, and to call for the financial commitments to realize its promise.

The window of opportunity is now. We must act now, and act together to end COVID-19.

I thank you.

[/read_more]

Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

Damning report finds detainees in Iran were sexually abused and given electric shocks in gruesome post-protest crackdown

Iran’s police, intelligence and security forces, and prison officials have committed, with the complicity of judges and prosecutors, a catalogue of...

Joe Biden wins last presidential debate against Donald Trump

Joe Biden was surprisingly aggressive, it was perhaps the best debate he has had in 2020.Republicans...

Nigerians in USA to hold ‘mother of all protests’ against police brutality and bad governance in their home country

Nigerians in the United States would hold the 'mother of all protests' on Saturday against police brutality and bad governance in...

Nearly 60 million Americans have already voted representing 43% of total votes counted in 2016

At least 59.3 million Americans have already voted, according to data compiled by the U.S. Elections Project, putting the 2020 elections on track to...

What the Joseph Robinette Biden presidency would mean for Africa – Perspectives by Simon Ateba

Joseph Robinette Biden Jr., the 47th vice president of the United States in the Obama administration from 2009 to 2017, is...

Nigerians in USA hold protest against bad governance and police brutality in their home country

Nigerians in the United States on Saturday held a protest against bad governance and police brutality in their home country, shed...

Finally, Nigerian President confirms killing of peaceful protesters

President Muhammadu Buhari on Sunday confirmed the killing of peaceful protesters in the country last week by security forces.

Amnesty International outraged over Ethiopia’s decision to ban protests against ethnically motivated killings

Ethiopian authorities have banned peaceful protests against ethnically motivated killings which were due to take place on October 28, in direct...

Ramaphosa unveils statue of former ANC president and anti-apartheid activist OR Tambo

President Cyril Ramaphosa on Tuesday unveiled a 29.6-foot-tall statue of former ANC president and anti-apartheid activist Oliver Reginald Tambo, and delivered...

64.7 million Americans have already voted, representing nearly 47 percent of all votes counted in 2016

At least 64.7 million Americans have already voted, according to data compiled by the U.S. Elections Project, putting the 2020 elections on track to...

Six years after, South Africa police arrest suspects over murder of former Bafana Bafana and Orlando Pirates goalkeeper Senzo Meyiwa

President Cyril Ramaphosa on Monday congratulated the South African Police Service for the breakthrough in the investigation and arrests following the...

Amnesty International outraged over killing of eight schoolchildren in Cameroon

Amnesty International on Monday expressed outrage and condemnation over the killing of eight schoolchildren in the town of Kumba in the...

Outrage as Nigeria imposes fines on television stations for their coverage of peaceful protests

The decision by the Nigerian government to impose fines on at least three television stations for their coverage of peaceful protests...

President Ramaphosa promises ‘efficient, reliable, safe and affordable public transport’ to South Africans

President Cyril Ramaphosa on Monday discussed the myriad of challenges South Africans face daily with public transportation.

Amnesty International outraged over Ethiopia’s decision to ban protests against ethnically motivated killings

Ethiopian authorities have banned peaceful protests against ethnically motivated killings which were due to take place on October 28, in direct violation of the rights to freedom of expression and peaceful assembly, Amnesty International said on Tuesday.The National Amhara Movement (NAMA), an opposition political party, had called for protests following the killing of scores of people from the...

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error:
Share
Tweet
WhatsApp
Reddit
Share