Singapore, 10 May 2021 – The Asia Philanthropy Circle (APC) successfully coordinated US $1.5 million amongst its philanthropic members and community towards enabling access to much needed COVID-19 vaccines in Asia through the COVAX Advance Market Commitment (AMC) facility. The amount will be matched by Gavi, the Vaccine Alliance with funds provided by a public charity, bringing the total funding to US $3 million.
Being a member of APC, Li Foundation is one of the philanthropic organisations that contributed to the pooled fund with the Lien Foundation, Quantedge Advancement Initiative, MAC3 Impact Philanthropies and the Ishk Tolaram Foundation, amongst others.
This endeavor to support the vaccines rollout was first mooted by its members of APC in early 2021 on the challenges faced in the distribution of COVID-19 vaccines. Gavi, the organisation managing the COVAX facility, pools demand from different countries to effectively negotiate vaccine procurement and deployment. They highlighted the significant shortfall in funding, hindering the equitable distribution of vaccines across the world and the stark needs in Low-to-Middle-Income Countries (LMICs).
The US $3 million total funding coordinated by APC joins worldwide commitments from government and private sectors and will go towards securing and delivering around 600,000 vaccine doses for Asia, as well as towards helping the Gavi COVAX AMC reach its global target of 1.8 billion doses.
About Asia Philanthropy Circle
Asia Philanthropy Circle is a membership-based platform for philanthropists to learn, connect, and collaborate towards advancing a better Asia. Founded in 2015 by philanthropists for philanthropists, APC’s mission is to accelerate private action for the public good by addressing systemic challenges through collaborative philanthropy.
With 46 members from 13 markets, APC is home to a diverse network of philanthropists across Asia — across generations and interests, with a shared vision of creating better Asia through philanthropy.
APC is a registered charity headquartered in Singapore. www.asiaphilanthropycircle.org
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