financial crisis
financial crisis

The “WHO” pandemic project is facing a financial crisis in 2021 as a result of vaccination and oxygen shortages.

The “WHO” pandemic project is facing a financial crisis in 2021 as a result of vaccination and oxygen shortages. According to a draught report seen by Reuters, the World Health Organization (WHO) is requesting $11.5 billion in emergency financing to combat the more contagious form of the coronavirus, amid concerns that rich countries are partially skipping its COVID-19 programs. Financial crisis

According to the paper, which is likely to be published this week, a significant amount of the money sought from the WHO’s partners is required to purchase testing, oxygen, and face masks in poorer countries. And a fifth of it would be used to purchase hundreds of millions of vaccinations that would otherwise be used elsewhere.

The document, which is still subject to modification, describes the findings and funding requirements of the Access to COVID-19 Tools Accelerator (ACT-A), a WHO-led initiative to distribute COVID-19 vaccinations, medicines, and diagnostics equitably throughout the globe.

The initiative, which was established at the beginning of the epidemic, is still grossly underfunded, and these organizers are now admitting that it will stay so as many countries seek to handle global COVID requirements “differently,” an ACT-A source told Reuters on condition of anonymity.

Consequently, it has reduced its overall funding request by almost $5 billion, according to the paper. However, it still needs $16.8 billion, almost as much as has been collected so far, and $7.7 billion is urgently needed.

In addition to the $7.7 billion, the paper asks for an additional $3.8 billion to pursue possibilities for 760 million doses of COVID-19 vaccinations to be given next year.

“These purchasing alternatives must be used in the next months or vaccination doses will be lost,” the letter cautions.

Last week, WHO Director-General Tedros Adhanom Ghebreyesus said that $7.7 billion were urgently needed. Still, he did not provide a breakdown of projected expenditure or indicate how much more money is required for vaccinations.

WHO did not respond to a request immediately. The new financial crisis will heighten worries about the program’s long-term viability. It has failed to obtain supplies and equipment to combat an epidemic that has killed more than 4.2 million people.

COVAX, the project’s vaccine component, is more dependent on contributions from rich countries than its supply, after major producer, India, banned exports of injections from increasing local immunizations.

However, as part of their vaccine diplomacy campaigns, the United States, European Union, and Japan have also given vaccinations directly to countries. Japan has also said that it is a faster procedure than using COVAX.

Some nations have also given direct assistance to others. Australia said last month that it would send oxygen-related equipment, antigen test kits, and vaccinations to Indonesia.

The request for funds comes as the ACT-A is being reviewed, with France, Germany, and Canada leading the process. Dalberg Global Development Advisors, a consultant, is scheduled to provide a report on the program’s successes and weaknesses in September, according to an ACT-A official.

NEEDS FOR OXYGEN

ACT-urgent A’s requirements include $1.2 billion for oxygen to treat critically sick patients. COVID-19 patients in impoverished nations where resources are scarce, according to the study.

According to an ACT-A official, oxygen has risen to the top of the priority list since vaccinations are in limited supply, underlining the consequences of the vaccine scarcity as the Delta strain expands to 132 countries.

COVAX has supplied about 180 million vaccinations, falling well short of its goal of 2 billion by the end of this year. According to the paper, oxygen is required to “manage the exponential mortality spikes produced by the Delta variety.” According to the paper, global demand for medical oxygen is now more than a dozen times higher than before the epidemic, yet many nations are struggling to get enough supply. According to ACT, the urgent need for the most basic COVID-19 therapy one and a half years into the epidemic demonstrates little has been done to fight the global virus.

A government official said, noting: “There hasn’t been a lot of development. What was essential three months ago remains so now.” “Inequity in access to life-saving COVID-19 tools has never been more evident,” according to the paper. Financial crisis

Most individuals in wealthy countries have previously been immunized, especially children who are less susceptible to COVID-19, while in poorer countries, the most vulnerable are still waiting for a first dose, and there is a shortage of basic supplies, such as face masks and other personal protective equipment (PPE). Financial crisis

“Avoidable mortality and unsustainable strain on health systems are increasing in many countries owing to inadequate access to oxygen and personal protective equipment,” according to the paper. According to the paper, at least $1.7 billion is urgently needed to purchase protective equipment for healthcare workers in poorer countries. Another $2.4 billion is required to increase testing in low-income countries.

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