The World Bank had swiftly mobilized vaccine financing with the aim to aid affordable and equitable vaccine acquisition and deployment, and to indicate to potential suppliers that Bank financing was accessible to its clients. Such a commitment offered an incentive for vaccine manufacturers to provide for developing economies at affordable prices. All eligible Bank client countries (IBRD/IDA) had the opportunity to access the vaccine financing within their existing lending envelopes for IDA countries and exposure limits for IBRD. The World Bank Group worked in global solidarity with COVAX, WHO, UNICEF and other partners at global and country levels to aid IDA and IBRD countries. This financing could be utilized by countries to make payments to COVAX, which included the purchase of additional doses beyond the COVAX-provided 20% as countries aimed for higher coverage levels.

IFC’s $4 billion Global Health Platform had supported private companies in providing health products and services – including vaccines to developing countries. This included investments in vaccine manufacturers to foster increased production of COVID-19 vaccines in low- and middle-income countries, with production allocated for emerging markets. There was also an ability to invest in production to address other potential bottlenecks, including vials, needles and syringes, and cold storage capacity. Support was provided for mapping COVID-19 vaccine manufacturing capacity.

The approach drew on the World Bank Group's expertise in supporting large scale immunization programs for vaccine preventable diseases, as well as public health programs to combat infectious diseases such as HIV, tuberculosis, malaria and neglected tropical diseases.