On November 2, 2020, vaccines alliance Gavi, a public-private health partnership based in Geneva, named Citi as financial adviser to the Covax Facility.
Launched that April, Covax, a collaboration of global governments, multilaterals and pharmaceutical firms, had a specific remit: to deliver 2 billion doses of pandemic vaccines to Covid-hit lower-income countries by the end of 2021.
With that deadline fast approaching, it’s a good time to ask a few salient questions. Notably: how successful has Covax been; what lessons were learned; and what role has Citi played in the financial strategy and keeping the project on track?
The plan
When Covax was launched, the world was reeling from the first wave of the coronavirus pandemic.
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