Cabo Verde - Mongolia - Tajikistan - COVID-19 Emergency Response and Vaccines Additional Financing - Chair’s Summary - February 11, 2021

Jul 19, 2026

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Chair’s Summary dated February 11, 2021 records Executive Directors’ approval of three additional financing operations under the COVID-19 Strategic Preparedness and Response Program for Cabo Verde, Mongolia, and Tajikistan, including added credits and a restructuring with a further grant. It details revised vaccine eligibility requirements based on approvals by Stringent Regulatory Authorities or WHO prequalification, and highlights the need for urgent, equitable roll-out. The summary emphasizes health system strengthening, readiness coordination with country partners and COVAX, risk mitigation supervision and monitoring, and the role of private-sector manufacturing capacity.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages2

Reading Time5 min

AccessFree to download

Chair’s Summary

Approved additional financing operations

Vaccine eligibility and funding terms

Equity, readiness coordination, and partnerships

Monitoring, risk mitigation, and follow-up updates

Public Disclosure Authorized Public Disclosure Authorized The Republic of Cabo Verde Additional Financing for the Cabo Verde COVID-19 Emergency Response Project on Vaccines Mongolia Mongolia COVID-19 Emergency Response and Health System Preparedness Project Additional Financing The Republic of Tajikistan Additional Financing for the Tajikistan Emergency COVID-19 Project Chair’s Summary* February 11, 2021 Executive Directors approved three operations under the Additional Financing of the COVID-19 Strategic Preparedness and Response Program (SPRP) using the Multiphase Programmatic Approach, namely additional credits to: 1) Cabo Verde-COVID-19 Emergency Response Project on Vaccines, for SDR 3.5 million (US$5 million equivalent); and 2) Mongolia-COVID-19 Emergency Response and Health System Preparedness Project, for SDR 35.3 million (US$50.7 million equivalent); and a restructuring and an additional grant to 3) Tajikistan-Emergency COVID-19 Project, for SDR 6 million (US$8.63 million equivalent) all on the terms and conditions set out in the President’s Memoranda. Directors approved the modification of the vaccine eligibility threshold in these operations to enable financing of vaccines for Cabo Verde, Mongolia and Tajikistan as follows: eligible vaccines have to obtain either: (i) approval by three Stringent Regulatory Authorities (SRAs) including Emergency Use Authorization (SRAs from at least two regions) or (ii) WHO prequalification and approval by one SRA. Directors noted that as the first large-scale investment in COVID-19 vaccines, the three operations are an important contribution to the response to the pandemic. They emphasized the urgency of an equitable vaccine roll-out to contain the pandemic to save lives and livelihoods, with due regard to prioritized and most in-need situations as well as vulnerable groups. They added that strengthening health systems overall will be imperative in the long run. Directors recognized the importance of country readiness, and asked Management to work with country authorities and partners, and coordinate support to help fill gaps. Directors emphasized that strong cooperation with COVAX and multilateral and bilateral development partners are critical to equitable deployment of the vaccines. They stressed that Bank financing to support vaccine acquisition beyond COVAX should be complementary. Some Directors also considered that a regional perspective may be beneficial in some cases to allow broader coverage of vaccine deployment. Directors called for enhanced supervision and monitoring mechanisms as well as mitigation measures to manage risks, where possible. They asked that support be given to addressing capacity, governance, financial, technical and legal constraints, as well as other readiness issues, to ensure effective delivery of vaccines. Expressing concerns on global manufacturing and distribution capacity, Directors urged for participation and investments by the private sector. Finally, Directors asked for follow up regular updates on the operational response to support COVID19 vaccine acquisition and deployment, including how readiness is evolving in countries, partnerships, and sequencing of Bank support. *This Summary is not an approved record.

FAQs

What operations did Executive Directors approve for additional financing?

Executive Directors approved additional credits for Cabo Verde’s COVID-19 Emergency Response Project on Vaccines and Mongolia’s COVID-19 Emergency Response and Health System Preparedness Project, plus a restructuring and additional grant for Tajikistan’s Emergency COVID-19 Project.

How does the summary define vaccine eligibility requirements?

Eligible vaccines must obtain approval by three Stringent Regulatory Authorities, including Emergency Use Authorization (with SRAs from at least two regions), or WHO prequalification and approval by one SRA.

What priorities and coordination actions are emphasized for vaccine deployment?

The summary stresses urgency and equitable roll-out, strengthening health systems, coordination with country authorities and partners, strong cooperation with COVAX and development partners, and complementary Bank financing beyond COVAX.

Jul 19, 2026

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