Project profile — Advance Market Commitment for Pneumococcal Vaccines (II)

Overview

Description

The Advance Market Commitment (AMC) is a financial commitment by multiple donors to help pay for the future purchase of a vaccine for pneumococcal disease, a leading cause of child deaths from pneumonia and meningitis in developing countries. Pneumococcal disease is responsible for more than 1.7 million deaths per year. Of these deaths, almost 90% occur in developing countries, and half occur among children under age five. The AMC is an innovative way to protect the lives of the world’s poorest children by making vaccines available in developing countries more quickly. It is based on the concept of putting money aside to guarantee the purchase of vaccines once they are developed as long as they meet criteria specifically set out for the developing world. It aims to stimulate vaccine makers to accelerate the production of vaccines for developing countries and sell them at prices that poor countries can afford. The AMC is expected to save an estimated 7 million lives by 2030. The total donor commitment to the AMC is US$1.5 billion. These funds allow for the implementation of the AMC concept by the World Bank and the GAVI Alliance. Canada's total commitment to the AMC is US$200 million, of which C$115 million have been disbursed. This project represents the balance of Canada's contribution, which is disbursed based on country demand for pneumococcal vaccines.

Financials

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