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It is a $9 billion initiative of Asian Development Bank(ADB).
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Aim: To offer rapid and equitable support to its developing members as they procure and deliver effective and safe coronavirus disease (COVID-19) vaccines.
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Criteria: If a country has to obtain finances under APVAX, then it should fulfil one of the three criteria:
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Vaccine must be procured through COVAX.
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Vaccine should be prequalified by World Health Organization
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Vaccine should be authorised by a stringent regulatory authority.
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Related Facts:
COVAX:
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It is an alliance co-led by Gavi, the Coalition for Epidemic Preparedness Innovations(CEPI) and WHO.
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It aims to accelerate the development and manufacture of COVID-19 vaccines and to guarantee fair and equitable access for every country in the world