Venezuela joins the COVAX vaccine program, paying US$64 million to GAVI

Despite initial refusal to import COVID-19 vaccines through the UN-led COVAX program, Venezuelan president, Nicolas Maduro, recently announced that his country would take advantage of the scheme and transferred US$64 million to the GAVI Vaccine Alliance. The deal was a result of a rare deal between the authoritarian president and the opposition leader, Juan Guaido.

According to official data, Venezuela has recorded 176,000 cases and 1,815 deaths caused by COVID-19 but those numbers may be higher. In 2020, the Latin American nation apparently managed to avoid a serious increase in cases mainly due to gasoline shortages which limited internal mobility. However, Venezuelan doctors have warned of a recent spike in coronavirus cases and have urged Maduro to speed up the vaccination process.

With a total population of 28.5 million, so far, the country has received half a million doses of the Chinese Sinopharm vaccine and 250,000 of Russian Sputnik-V with another 30,000 expected to arrive soon.

Initially, the Venezuelan authorities began negotiations to receive vaccines through the COVAX program with the US and WHO. This dialogue was made possible because of the involvement of opposition leader, Juan Guido, who is recognized by the US and many western countries as the Venezuelan interim president. However, days before closing the deal, Maduro suddenly decided to withdraw from COVAX, blaming his decision on the ambiguities around the side effects of the Astra Zeneca vaccine which has caused blood clots in a few cases. Maduro has now changed his mind and agreed to his country joining the COVAX program and the Astra Zeneca vaccine being used.

The payment of US$64 million, which is more than half the amount needed to purchase the vaccines, was possible due to the engagement of the Venezuelan opposition. The amount was released from the US$342 million kept in the US by the Venezuelan Central Bank and frozen by the US authorities in 2019.

Venezuela expects to receive 11 million COVID-19 vaccines from COVAX.

At the same time, the country’s Vice President, Delcy Rodriguez, has said that Venezuela will start to produce the Cuban vaccine, Abdala. Cuba is the first Latin American nation to develop its own vaccine against COVID-19. The government in Havana is currently testing two different preparations, Abdala and Soberana 02. Over 62,000 people have received the first dose within controlled intervention trials.