Linklaters advises Gavi the Vaccine Alliance on adoption of insurance contracts for COVAX Facility

Linklaters is delighted to have supported Gavi, the Vaccine Alliance behind the global COVAX Covid-19 vaccination initiative, on a risk management solution from the U.S. International Development Finance Corporation (DFC), in conjunction with Citi, to mitigate risk and overcome financial hurdles with governments that are funding COVID-19 vaccine purchases through the COVAX Facility.

DFC support will help Gavi’s efforts to pre-purchase a target of up to two billion vaccine doses directly from manufacturers and allocate these vaccines rapidly and equitably throughout the world. The solution will offer protection against political risks in nine self-financing countries – across Latin and Central America, the Middle East, and Eastern Europe – participating in COVAX, covering a total amount of more than $383 million in insurance, and exemplifies the collective and global action required to address and end the COVID-19 pandemic.

Linklaters’ cross-practice team on this risk management solution was led by partners Andrew Jones, Aisling Zarraga and Adam Fogarty with managing associate Kwaku Osei, and was supported by partners Marly Didizian and Savi Hebbur, with managing associates Alistair Fraser and Ben Hagyard, and associates Brittany Sutherland, Adam Barr, and Deborah Soh.

Linklaters’ advice on this important risk mitigation exercise for Gavi follows the firm’s advice throughout the conception, design, and implementation of the COVAX Facility.