Additional Financing to the COVID-19 Strategic Preparedness and Response Program (SPRP) - Chair Summary - October 13, 2020

Jul 19, 2026

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Chair Summary dated October 13, 2020 records Executive Directors’ approval of US$12 billion in IBRD/IDA Additional Financing for the Global COVID-19 Strategic Preparedness and Response Program using the Multiphase Programmatic Approach. It outlines waivers of standard IBRD commitment fees, emphasizes safe and equitable vaccine access, and sets eligibility using approvals by 3 SRAs in three regions or WHO prequalification plus 1 SRA. The summary highlights coordination with COVAX and partners, risk mitigation for legal, social, organizational, and fraud concerns, and strengthening primary healthcare delivery systems.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

AccessFree to download

Executive Directors’ approval

Financing scope and fee waiver

Vaccine eligibility and safe deployment

Coordination and partnerships

COVAX and multilateral agencies

Risk management and implementation

Risks, mitigation, and monitoring

Public Disclosure Authorized Public Disclosure Authorized Additional Financing to the COVID-19 Strategic Preparedness and Response Program (SPRP) utilizing the Multiphase Programmatic Approach (MPA) Chair Summary October 13, 2020 Executive Directors approved the IBRD/ IDA Additional Financing in the amount of US$ 12 billion, of which US$6 billion IBRD and US$6 billion IDA, for the Global COVID-19 Strategic Preparedness and Response Program (Global COVID19 MPA) utilizing the Multiphase Programmatic Approach (MPA) . They also approved the waiver of the standard IBRD commitment fees for projects under the Additional Financing for the first 18 months, starting from the approval date of financing for each project. Directors stressed the Bank’s important role in responding to the pandemic and strongly supported the focus of the Additional Financing to help finance IBRD/IDA client countries’ access to and deployment of COVID-19 vaccines, and to provide technical and financial assistance so that vaccines are deployed safely. Directors noted the importance of client countries obtaining vaccines that are safe and effective and can be deployed effectively and equitably. Given the unprecedented pace of vaccine development, and the need for both speed and prudence, the Bank will accept approval either of 3 Stringent Regulatory Authorities (SRAs) in three regions, or WHO prequalification and 1 SRA, as the threshold for eligibility of IBRD/IDA resources in vaccine purchase. This is a modified proposal relative to what Executive Directors received, and a revised AF document will be circulated with this edit. Directors emphasized the key role for the Bank in international coordination, with particular attention to strong and very close collaboration with COVAX, including on procurement matters. They also urged deeper partnerships with multilateral agencies, such as the WHO, GAVI, and UNICEF. They asked for more clarity on eligibility criteria and called for equitable and affordable access to vaccines, within countries and across countries. In implementing the program, Management committed to supporting multilateral efforts currently led by WHO and COVAX, in particular with regard to advising clients on the value of these facilities for procurement and monitoring of allocations. Directors noted the high risks of the program and particularly the uncertainty related to prices. They also called for the Bank to ensure effective risk mitigation to address legal, social and organizational risks as well as fraud and corruption risks in the procurement and deployment of vaccines. Directors also supported the focus on strengthening the capacity of the primary health care delivery systems and other relevant national systems to improve immunization/vaccination and associated services delivery in the future. They mentioned the need to work with other partners and country authorities on all the operational steps that ensure the successful and effective deployment and delivery of vaccines in member countries. Directors agreed with Management’s clarification that Bank Facilitated Procurement does not and will not entail procurement of vaccines directly by the Bank. Given the novelty of the project, close coordination between Management and Board will be needed. This will be reflected in enhanced monitoring of the program. In this context, Management will seek Board approval of the first 5 IDA and 5 IBRD operations, irrespective of the risk categorization or size of the operation. Management will also update the Board in Quarter 3 of FY21 to review initial experience and report on progress. This will complement the continued weekly and monthly progress reporting as practiced following the approval of the 1st MPA. *The Summary is not an approved record.

FAQs

What financing amount and instruments were approved for SPRP?

Executive Directors approved IBRD/IDA Additional Financing totaling US$12 billion: US$6 billion IBRD and US$6 billion IDA for the Global COVID-19 Strategic Preparedness and Response Program.

How is eligibility for IBRD/IDA vaccine purchase determined under the program?

Eligibility is set using either approval by 3 Stringent Regulatory Authorities (SRAs) across three regions, or WHO prequalification and 1 SRA.

What implementation and risk-mitigation priorities were emphasized?

Directors stressed mitigation of legal, social, organizational, and fraud/corruption risks, reinforced monitoring, and supported strengthening primary healthcare systems to improve immunization and vaccination delivery.

Jul 19, 2026

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