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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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Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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british-airways

As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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