Every country faces the same fundamental challenge in the face of the COVID-19 pandemic. Their economies and societies cannot fully return to “normal” until we have a safe and effective vaccine. And achieving that goal quickly is not easy. We see four big problems.
CGD Policy Blogs
Despite decades of investment, TB remains a global crisis. Each year, TB kills 1.6 million people—making it the world’s deadliest infectious diseases. We have set out to develop a solution: what we ultimately called the Market-Driven, Value-Based Advance Commitment (MVAC), a mechanism to create and guarantee a market for better TB treatment, if and when such a treatment becomes available.
CGD has been following Advanced Market Commitment (AMC) for vaccines for a while now: from its groundwork in the CGD report Making Markets for Vaccines, to its launch and the delivery of its first vaccines in 2010 (GAVI also offers a nice timeline of events here). This innovative financing mechanism aims to increase investment in vaccines for use in lower-middle income countries (LMIC)by guaranteeing a market for appropriate health products and services, reducing unpredictability or volatility that can discourage private investment, and increasing competition and innovation between companies and organizations (read more here).