UN conference: PM calls for viable framework for affordable supply of COVID-19 vaccines to developing countries

Prime Minister Imran Khan has called for a viable framework for equitable and affordable supply of coronavirus vaccine to developing countries.

Addressing the fourth session of the United Nations Conference on Trade and Development (UNCTAD) on Monday, the PM said the world today is grappling with a series of interlinked and unprecedented public health and economic crises.

He further said that while the novel coronavirus does not discriminate between the rich and the poor, 'the most vulnerable people and countries have suffered the most'."Millions are likely to fall back into poverty," the PM said.

He said the COVID-19 vaccines were now being administered in developed countries but seemed that it will take a much longer time for the vaccine to fully cover the global South. The pandemic also offers an opportunity to address the structural barriers hampering global prosperity and development, the prime minister said.

Proposing a five-point agenda the PM said that the coverage of the COVAX facility must be expanded enabling the developing countries to 'spend their precious resources on socio-economic development needs'.

He called for the general allocation of Special Drawing Rights of 500 billion dollars to help alleviate balance-of-payment pressures. The PM also stressed that the world community must take measures for the return of stolen assets held by corrupt politicians and criminals.

The PM also suggested the suspension of debt repayments for the most stressed countries until the end of the pandemic and restructuring of their public-sector debt under an agreed and inclusive multilateral framework.

"The developed countries should meet the agreed target of mobilizing 100 billion dollars annually for climate action in developing countries," the PM said.