FINANCE: More than 150 countries have committed their involvement in the development of a rapid, fair and equitable access Covid-19 vaccine worldwide.

The cheaply available vaccines are developed through the COVAX Facility-a fund where nations make contributions.

The facility targets $2 billion (Sh215.5 billion and has already secured $500 million (Sh53.9 trillion).

At least 75 countries will finance the vaccine development from their own public finance budget while up to 90 lower income countries could receive voluntary donations.

World Health Organisation (WHO) says the 165 countries represent over 60 per cent of the world population.

Every continent is represented as well as more than half of the world’s G20 economies.

This facility is a truly global solution to the Covid-19 pandemic, Dr Seth Berkley, chief executive officer of Gavi, the global Vaccine Alliance.

“For the vast majority of countries, whether they can afford to pay for their own doses or require assistance, it means receiving a guaranteed share of doses,’’ he said in a statement through WHO.

The aim is to accelerate the development and manufacture of Covid-19 vaccines, and to guarantee fair and equitable access for every country in the world.