Did Bill Gates Invest $150 Million On Covid-19 Vaccine? What Are GAVI And COVAX?

Bill Gates

In this global pandemic situation due to Covid-19, a lot of the billionaires across the world have come together to serve humanity in whatever way possible. If there’s a list somewhere, the name that would take up a prime spot is the founder of Bill & Melinda Gates Foundation, Bill Gates.

Serum Institute of India, Pune
Serum Institute of India, Pune

Well, Bill Gates has always been quite a humanitarian. Throughout his life, he has spent millions, if not billions of dollars all over the world, especially for the growth and upliftment of emerging countries. This Covid-19 situation has been no different! Throughout these difficult times, Gates has used his economic prowess in various aspects- whether it be kit distribution, setting up health camps or even vaccine development.

Statement from Serum Institute of India

One of the forerunners in this race to develop a successful Covid-19 vaccine is the vaccines developed under the collaboration of Oxford University and the Serum Institute of India(SII). A recent statement from SII said that they have got into a partnership with Bill & Melinda Gates Foundation and Gavi, The Vaccine Alliance. It also included that they have received the fund of 150 million US$ for developing 100 million COVID-19 vaccine doses for India and other developing countries.

CEO Adar Poonamwalla has confirmed the procedure of the deal. The Bill & Melinda Gates Foundation will be providing the funds to Gavi, who will be working in alliance with the Serum Institute of India for the cheap production and sale of the vaccine to emerging economies. Ninety-two countries, who are a part of Gavi’s COVAX Advance Market Commitment(AMC) would be getting this vaccine at around $3 per dose. This would be roughly ₹225 in the Indian market.

When will this vaccine be made available?

According to our sources, the vaccine should be available in the market by early 2021. There are a few vaccines that have provided positive results in the trials. Two of these – AstraZeneca and Novanax have been specially mentioned by Gavi. However, both these vaccines are in their pre-final stage of the trial, and there’s still a final stage to go. Let’s see what happens! We can hope for the best!

What are GAVI and COVAX?

GAVI, or Gavi, The Vaccine Alliance is an International organisation that works towards providing vaccines to children, especially in the world’s poorest countries. The CEO of Gavi is Dr Seth Berkley, who himself is a Harvard-trained physician. He is also the founder and former CEO of the International AIDS Vaccine Initiative.

Dr Seth Berkley, CEO of GAVI
Dr Seth Berkley, CEO of GAVI

GAVI has been working closely with numerous organisations throughout the world in developing this vaccine. It is also co-leading COVAX, the vaccines pillar of the Access to COVID-19 Tools (ACT) Accelerator. This is basically a mechanism to ensure that all the countries in the world, even the poorest ones are able to get purchase the vaccine once it gets developed. One of the chief supporters of this organisation and its scheme has been the Bill and Melinda Gates Foundation.

With the entire world’s future resting on these guys, we are hopeful that humanity will emerge victorious!

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