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World Leaders Unite to Commit to Global Equitable Access for COVID-19 Vaccines

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COVID-19 - Investors King

World leaders joined forces at the “One World Protected”- Gavi COVAX Advance Market Commitment (AMC) Summit hosted by Japanese Prime Minister Suga Yoshihide and Gavi Board Chair, José Manuel Barroso to pledge their support to the Gavi COVAX Advance Market Commitment (AMC) securing US$ 2.4 billion, reaching a total of US$ 9.6 billion for COVID-19 vaccine procurement. In addition, donors have pledged US$ 775 million for vaccine delivery.

This funding will allow the COVAX AMC to secure 1.8 billion fully subsidised doses for delivery to lower-income economies in 2021 and early 2022. This is enough to protect nearly 30% of the adult population in AMC-eligible economies. The funds raised will also support COVAX to diversify its vaccine portfolio in times of supply uncertainty and new variant emergence and to plan the scenarios and strategy for public health needs for 2022 and beyond.

“Bringing an end to the COVID-19 pandemic is the most pressing challenge of our time – and nobody wins the race until everyone wins,” said Dr Seth Berkley, CEO of Gavi. “Today, as we looked back on one year of COVAX, we saw that global leaders clearly recognise the need for equitable access and support the principle that ability to pay should not determine whether someone is protected from this virus.”

The European Investment Bank is stepping up to support African Union countries with an additional EUR 300 million financing to access vaccines via the COVAX cost-sharing scheme – leveraging domestic resources to procure safe and efficacious vaccines through COVAX.

Werner Hoyer, President of the European Investment Bank: “Over the last year global cooperation, including advanced funding from the European Investment Bank, has enabled COVAX to deliver 70 million doses in 126 countries, but access remains a privilege. Today’s One World Protected summit is mobilising urgent action essential to tackle the significant shortfall and increase overall financing. This will ensure that the global COVAX roll-out delivers billions of vaccines in 2021 and early 2022 to tackle COVID-19, save lives and help communities and business to return to normality. As part of Team Europe the EIB is currently working to increase its financing to COVAX, alongside backing new investment to strengthen health and economic resilience to the pandemic around the world.”

President von der Leyen, President, European Commission: “To accelerate safe and effective vaccination everywhere we all need to step up efforts. This is the only way to get out of the current crisis and to prevent a new pandemic. Team Europe is investing in COVAX, both financially and by sharing vaccines. Because we believe this is the best way to ensure universal, fair and affordable access to COVID19 vaccines. Our common goal is to leave no one behind. The EU, together with the European Investment Bank, will reorient 300 million euro to COVAX. This is Team Europe’s contribution to AVATT-COVAX’s cost-sharing rapid finance scheme. This scheme will help vaccine purchases in Africa. And it will foster links between COVAX and the African Union.”

This EIB EUR 300 million financing is the path forward towards an aggregate commitment of US$ 1 billion from Multilateral Development Banks and International Financing Institutions to support a cost-sharing initiative enabling AMC-eligible economies to use domestic resources to purchase additional vaccines through COVAX. This will facilitate them to take advantage of COVAX’s global logistics system, globally negotiated volume and prices, and other critical benefits such as the No Fault Compensation Scheme.

Commitments were also made to free up supply chains and remove bottle necks that restrict or slow down the distribution of COVID-19 vaccines, raw materials and components. Vaccine manufacturers have reaffirmed their support to COVAX as the only global solution to ending the acute phase of the pandemic.

Dr Tedros Adhanom Ghebreyesus, WHO Director-General: “Vaccinating the world relies on full support for COVAX. Fully financing the Advance Market Commitment is not charity. Only by working together can we end the pandemic and start building back our global community,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “This June, we must build on the momentum from this summit to secure COVAX the doses and funds needed to overcome its immediate supply gap and continue to build a sustainable pipeline into the future.”

The Summit was an opportunity for leaders to reflect on the challenges, successes and lessons learned as Gavi COVAX AMC marks one year since its launch; and look ahead to potential scenarios to address the pandemic and bolster global health security for the future.

The pledges, commitments and support from the global community at the Summit will enable COVAX to continue working towards keeping everyone safe.

The first international delivery of doses of COVID-19 vaccines supported by COVAX arrived in Ghana on February 24. As of today, more than 77 million doses have been shipped to 127 countries across six continents. Doses shared by countries will be used to make up for COVAX’s short-term supply disruption, which is expected to last into the third quarter of 2021.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Air Peace Flight Makes Emergency Landing Due to False Fire Warning

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Passengers aboard Air Peace Flight APK7193 experienced a tense moment as the aircraft made an emergency landing at Murtala Muhammed Airport in Lagos following a false fire warning in the cockpit.

The incident, which occurred on Thursday during the flight from Port Harcourt, highlighted the swift response and safety protocols implemented by the flight crew amidst the alarming situation.

With 243 passengers and 12 crew members on board, the flight’s pilots noticed a fire warning indicator in the cockpit, prompting immediate action.

Acting swiftly, the pilots executed all necessary safety measures and initiated an emergency landing procedure.

At 4:45 pm, the aircraft safely touched down on Runway 18L at the Lagos airport, averting a potential crisis.

Upon landing, fire fighting personnel stationed at the airport observed smoke emanating from the engines, prompting the pilots to shut down the engines as a precautionary measure.

However, it was later confirmed that the observed smoke was unrelated to any fire event, reassuring passengers and crew of their safety.

Air Peace promptly issued a statement addressing the incident, titled “Notification of false fire alarm on Port Harcourt-Lagos flight.”

The airline clarified that the fire warning indicator noticed in the cockpit was indeed a false alarm.

The statement emphasized the airline’s commitment to safety and reassured the flying public that all necessary precautions were taken to ensure the well-being of passengers and crew.

“We want to reassure the flying public that safety remains our utmost priority, and we are unwavering in our commitment to it,” the statement read.

Despite the momentary panic caused by the false fire warning, the swift and coordinated response of the flight crew, coupled with adherence to safety protocols, ensured a safe and uneventful landing for all passengers and crew members.

The incident serves as a testament to the importance of rigorous safety procedures and the critical role played by well-trained aviation professionals in ensuring passenger safety.

As investigations into the cause of the false fire warning are likely underway, Air Peace’s response underscores the airline’s dedication to transparency and accountability in addressing safety-related incidents.

Passengers and industry stakeholders alike can take solace in the airline’s commitment to maintaining the highest standards of safety and operational excellence.

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Saudi Arabia Breaks 70-Year Alcohol Ban, Opening Shop for Diplomats

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Alcohol

Saudi Arabia has announced the opening of an alcohol shop in Riyadh, breaking a 70-year-long prohibition on the sale of alcoholic beverages in the kingdom.

This decision marks a significant shift in the conservative nation’s stance on alcohol consumption.

The alcohol shop, set to be located in Riyadh’s Diplomatic Quarter, will exclusively serve non-Muslim expatriates, particularly diplomatic staff.

This is the first time since 1952 that alcohol will be legally available for purchase in the kingdom.

The initiative aims to provide a legal avenue for diplomats who have previously relied on importing alcohol in sealed diplomatic pouches.

The decision comes as part of the Saudi government’s efforts to address the issue of illicit alcohol trade within the country.

By offering a legal means to access alcohol, authorities hope to mitigate the risks associated with underground alcohol markets.

However, the shop’s operations will be subject to strict regulations. Only diplomatic staff with prior registration and government clearance will be allowed to purchase alcohol.

Also, patrons must be over 21 years old and adhere to a prescribed code of conduct while inside the shop.

The introduction of the alcohol shop is a part of broader societal reforms under Saudi Arabia’s Vision 2030 initiative, aimed at modernizing and diversifying the kingdom’s economy.

While the move represents a significant departure from traditional norms, it aligns with the government’s broader agenda of liberalizing certain aspects of Saudi society.

While the alcohol shop signifies a progressive step forward, it’s important to note that the sale and consumption of alcohol remain strictly prohibited for Saudi citizens under Islamic law.

Violators of these laws are subject to severe penalties, including fines, and imprisonment.

Overall, the opening of the alcohol shop marks a historic moment in Saudi Arabia’s social and economic landscape, signaling a willingness to adapt to changing global norms while navigating the complexities of religious and cultural traditions.

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NCAA Suspends Dana Air’s Operations Amid Safety Concerns

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Dana Air

The Nigerian Civil Aviation Authority (NCAA) has taken decisive action following a recent incident involving Dana Air by suspending the airline’s operations amid escalating safety concerns.

This move comes in the wake of an unsettling event where a Dana Air plane veered off the runway upon landing at Lagos airport.

The incident, which occurred shortly after a flight from Abuja, prompted emergency responders and regulatory agencies to swiftly respond and ensure the safety of all 83 passengers and crew onboard.

While initial reports indicate no injuries, the occurrence raised red flags regarding Dana Air’s operational safety protocols.

In response, NCAA wasted no time in initiating a thorough investigation with the Nigerian Safety Investigation Bureau leading the probe.

However, pending the investigation’s outcome, the regulatory body opted for a precautionary measure by suspending Dana Air’s Air Operator Certificate (AOC) effective April 24, 2024, at 23:59.

The suspension, outlined in a letter signed by Acting Director Chris Najomo, aligns with Section 31(7) of the Civil Aviation Act 2022.

The Minister of Aviation and Aerospace Development, Festus Keyamo, expressed dismay over the incident.

In a letter addressed to NCAA, the Ministry directed the immediate suspension of Dana Air’s fleet until a comprehensive audit could be conducted, covering safety protocols, maintenance procedures, and financial health.

The suspension serves as a stern reminder of the aviation industry’s uncompromising commitment to safety and underscores the need for thorough oversight to safeguard passengers and maintain industry standards.

As stakeholders await further developments, the focus remains on ensuring the highest level of safety and regulatory compliance within Nigeria’s aviation sector.

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