[News] IDB allocates $ 1 billion to finance vaccines against COVID-19 in Latin America and the Caribbean

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The Inter-American Development Bank (IDB) announced that it will mobilize $ 1 billion to support the countries of Latin America and the Caribbean to acquire and distribute vaccines against COVID-19.

The funds will complement the $ 1.2 billion in resources the IDB has committed in 2020, as well as other resources already scheduled for 2021, to support life-saving plans through public health measures, such as more effective tests and traces, and a better clinical management of patients with COVID-19, the agency said in a statement.

"We are expanding our support to help the countries of Latin America and the Caribbean to ensure timely access to safe and effective vaccines against COVID-19," said IDB President Mauricio Claver-Carone.

"The next few months will be critical to alter the course of the pandemic and support recovery in our region, so we are being bold and proactive," added the official.

The agency specified that it will support countries in three main areas: the purchase of vaccine doses through multilateral efforts such as the COVAX initiative of the World Health Organization (WHO); institutional strengthening to help countries develop effective mechanisms for the deployment of vaccines; and investments to strengthen immunization capacity and finance operational costs.

In order to provide support, the IDB will work in close collaboration with other institutions, such as the Pan American Health Organization (PAHO).

The IDB also said that it is reinforcing its call to governments to redouble their efforts in preparing their national deployment and vaccination plans and assured that it is ready to support the assurance of a successful implementation in the region.