COVID Vaccine to Generate $466 Billion Economic Benefits by 2025

covid economic benefits vaccine economies
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  • Date: 08-Dec-2020
  • Source: Al Bawaba
  • Sector: Economy
  • Country: uae-top-picks
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COVID Vaccine to Generate $466 Billion Economic Benefits by 2025

Global equitable access to Covid-19 vaccines estimated to generate economic benefits of at least $153 billion in 2020–21, and $466 billion by 2025, in 10 major economies, according to a new report by the Eurasia Group, global political risk research and consulting firm.

As world leaders gather virtually at the Special Session of the General Assembly in response to the Covid-19 pandemic, new data published today finds that

Leaving low- and lower-middle-income countries (LLMICs) without access to vaccines amid the Covid-19 pandemic will cause significant economic damage that puts decades of economic progress at risk – for both LLMICs and advanced economies alike, the report said.

The report by the Eurasia Group analyses ten major economies – Canada, France, Germany, Japan, Qatar, South Korea, Sweden, the UAE, the UK and the US – to assess the economic benefits to advanced economies of contributing to the work of the Access to Covid-19 Tools (ACT) Accelerator.

The ACT Accelerator, led by WHO and partnering with the world's leading international health organizations, is a unique global collaboration which supports the development and equitable distribution of the tests, treatments and vaccines the world needs to fight Covid-19.

However, the programme still has a significant funding gap of $28.2 billion