Things You Should Know About COVAX

The COVID-19 pandemic has already created havoc across the globe. It caused the loss of thousands of lives and disrupted millions of people. In order to reduce this tragic loss of life and help the world to get the pandemic under control, a vaccine is required. As a result, several global leaders come together for a solution that would accelerate the development of coronavirus vaccines along with its diagnostics and treatments, which is known as COVAX. So, let’s understand what is COVAX facility is all about in detail:

What is COVAX?

It is an extraordinary global collaboration of 170 countries that collectively represent 70% of the worldwide population. It has the most diverse portfolio of COVID-19 vaccines. Its primary purpose is to ensure equitable access to novel coronavirus vaccines to developing and under-developing countries. At present, the WHO and the GAVI vaccine alliance are leading the COVAX facility.  They are taking care of buying and distributing vaccination shots in different countries across the world. 

Things You Should Know About COVAX

Here are some quick facts that you should know about COVAX:

• It is one of the three pillars of the Access to COVID-19 Tools(ACT) which was launched by WHO, the EU (European Union), and France in April 2020.
• It serves as a global platform to maximize the chances of successfully developing COVID-19 vaccines.
• COVAX facility further co-led by GAVI(Global Alliance for Vaccines and Immunisation), the WHO, and the Coalition for Epidemic Preparedness Innovations (CEPI). 
• It ensures to discourage the hoarding of COVID-19 future vaccines and vaccinating first the most high-risk people in all the countries.
• COVAX helps to lower the costs of the vaccine so that people from every walk of life can use it and get better healthcare against the deadly virus.
• Developed nations that join this initiative will finance the vaccine purchases from their national budgets and support 92 under-developing countries to ensure vaccine accessibility to all.
• Wealthy member countries can obtain vaccines through bilateral deals as well.
• The objective of COVAX is to develop and deliver 2 billion doses of approved vaccines by the end of 2021. 
• At present, it has nine COVID-19 vaccine candidates in its portfolio. Some of them are in late-stage clinical trials.

India and COVAX

India has extensive experience in vaccines and eligible to become a member of the COVAX facility.  The WHO is in talks with India about joining the COVAX global vaccine allocation plan. India’s COVID-19 tally has crossed 58 lacs. However, our scientists are rigorously involved in the process of developing the vaccine. Still, the process has to undergo different layers, which is, of course, time consuming.

Suggestion

So, until now, the best way to keep yourself protected is to be at home, avoid crowded places, follow hygiene, and opt for health insurance. It covers hospitalization, treatment, and medication expenses for chronic and critical illnesses and even for coronavirus as well. 

Care Health Insurance offers Corona Kavach Policy- the most affordable and adequate health policy for you and your family with coronavirus treatment coverage (subject to policy terms and conditions)and provides you financial cushion during pandemic. So, be insured and informed are the only ways to keep at bay from COVID-19.

Disclaimer: Underwriting of claims for COVID-19 is subject to policy terms and conditions.