Washington, D.C., October 3, 2024 (鶹Ʒ) – High-level health authorities in the Americas today agreed on a resolution to grant greater flexibility to the 鶹Ʒ’s (鶹Ʒ) Regional Revolving Funds to accelerate access to health technologies. These measures are designed to boost self-sufficiency through the regional production of health supplies and foster innovation in response to emergencies and outbreaks.
The resolution stipulates that a portion of the capital collected by the Regional Revolving Funds will be allocated to incentivize local production and innovation projects. This includes establishing supply agreements that guarantee rapid access to medical supplies, thereby improving the capacity to respond to emergencies. Additionally, it contemplates the creation of a regional reserve of critical medicines to mitigate the impact of supply chain disruptions and reduce transportation costs, particularly for small island states.
These actions emerge in response to the new strategic priorities of the countries and territories of the Americas following the COVID-19 pandemic, providing regional producers with a solid foundation to produce medicines, vaccines, and other health technologies.
“The lessons learned from the pandemic show us that supporting regional production is essential to building a more resilient region and fostering economic growth. This support should not be limited to times of crisis, but should be continuous to ensure long-term sustainability,” Santiago Cornejo, Executive Manager of the 鶹Ʒ Regional Revolving Funds said.
The 鶹Ʒ Regional Revolving Funds already consolidate the needs for vaccines and other essential medical supplies and equipment of 42 countries in the region, benefiting local and global producers by offering a predictable demand for production over a given year. This mechanism, created 45 years ago, serves as a model for other regions seeking to replicate these benefits, such as Africa and the Middle East.
The 鶹Ʒ Regional Revolving Funds, which include the Revolving Fund for Access to Vaccines and the Strategic Fund for Health Supplies, are part of the technical cooperation that 鶹Ʒ offers to its Member States. With over 60 years of combined experience, countries in the region can access essential public health supplies of guaranteed quality, at affordable prices, and in a timely manner, thanks to the consolidation of regional demand and joint procurements based on technical recommendations.
