CGD President Nancy Birdsall Welcomes G-7 Vaccine Commitment
Finance ministers of the Group of Seven richest nations (G-7) have announced their decision to work with others on developing an Advance Market Commitment for a vaccine next year. The finance ministers met in London this weekend to consider a report from Italian Finance Minister Guilio Tremonti. This report recommended that the G-7 adopt a plan that is based on proposals made in April by a Working Group convened by the Center for Global Development (CGD).
CGD President Nancy Birdsall welcomed the announcement:
“This G-7 pledge is visionary and far-reaching. By agreeing to pilot an advance market commitment to pay for a vaccine if and when it is developed, the G-7 will create incentives for private companies to invest in urgently-needed new vaccines which will save millions of lives a year in developing countries. This is an exciting new way for governments to work with the private sector to tackle global challenges. There is a broad consensus of governments, industry, development experts and the global health community in support of this initiative. I am very proud that our research and analysis has contributed to this new way of providing aid which is tightly linked to results. All of us who care about global health stand ready to help G-7 Governments to realize this important pledge.”
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