ALBA-TCP and Russian Fund Design Route for Procurement of COVID-19 Vaccines

In order to consolidate the creation of the Vaccine Bank for the countries of the Bolivarian Alliance for the Peoples of Our America – Peoples’ Trade Agreement (ALBA-TCP), the Executive Secretary of the regional organization, Sacha Llorenti, and the president of the ALBA Bank, Raul Li Causi, held a telematic meeting this Friday with representatives of the Russian Direct Investment Fund for the acquisition of the vaccine against COVID-19, Sputnik V.

The information was made known by the Executive Secretary of ALBA-TCP through his account on the social network Twitter, in which he highlighted the importance of this initiative, which will be financed by the ALBA Bank, to guarantee the vaccination of the peoples of the integration mechanism, in addition to meeting the medicine needs of the nations of Latin America and the Caribbean, given the existing inequality in access to these inputs at the global level.

#InVideo 📹 | Executive Secretary @SachaLlorenti in the company of the President of @BancodelALBA_ Raúl Li Causi held a telematic meeting with representatives of the Russian Direct Investment Fund for the acquisition and shipment of @sputnikvaccine to #ALBA countries.#PrevenirEsVencer
– ALBA-TCP (@ALBA-TCP) February 14, 2021

This project emerged during the XVIII ALBA-TCP Summit, held in December, as a way to alleviate the monopoly exercised by a small group of governments in the acquisition of most of the vaccine doses to address the health emergency in their respective countries.

The ALBA-TCP Vaccine Bank is a policy proposed by Venezuela, which aims to put an end to inequality, control and appropriation of vaccines against COVID-19. To date, 95% of the vaccines have fallen into the hands of only 10 countries, an action denounced by the World Health Organization (WHO).

Alba Portal