The World Bank on Thursday said it had approved a re-allocation of $34 million in funds to support Lebanon's vaccination efforts as it races to contain the coronavirus pandemic, marking the first such outlay of funds by the Bank.
Lebanon has seen daily infection rates soar to the highest levels in the region, with over 6,000 cases reported on Friday, adding to economic and political pressures caused by a financial collapse and a huge port blast in August.
Thursday's re-allocation of funds from Lebanon's existing Health Resilience Project, is the first World Bank-financed operation to fund the procurement of COVID-19 vaccines.
It will provide vaccines for over 2 million individuals, with doses set to arrive in Lebanon by early February, and earmarked for priority groups such as high-risk health workers, those over 65, epidemiological and surveillance staff, and people aged 55 to 64 with co-morbidities.
"Fair, broad, and fast access to COVID-19 vaccines is critical to protecting lives and supporting economic recovery," World Bank Group President David Malpass said in a statement.
The World Bank said the decision to free the funds followed efforts by Lebanese authorities to conduct a vaccine readiness assessment, establish a national vaccine committee, and prepare a draft National Vaccine Deployment Plan (NVDP) in line with World Health Organization recommendations.
The Bank is working closely with over 100 countries to pave the way for them to receive low-interest loans and funding to purchase and distribute COVID-19 vaccines as part of a new $12 billion initiative approved in October.