China Merchants Group, a private sector company, will channel US$1.5 million from its affiliated charity, the Merchants Charitable Foundation, to fund Gavi the Vaccine Alliance’s immunisation programme for children in developing countries until 2019.
The firm, which operates ports, logistics and industrial parks in more than 40 countries worldwide, has committed to improving lives in local communities in the poorest countries. Its pledge marks the first agreement signed by Gavi and a private sector company in the Asia Pacific region.
“By providing financial support to promote immunisation, we look forward to working closely with Gavi in the future to contribute our business expertise to make sure that every child is protected with life-saving vaccines,” said Li Xiaopeng, president of China Merchants Group and vice chairman of its board of directors.
The partnership reflects China’s China’s Belt and Road Initiative under president Xi Jinping which aims to expand China’s reach into 68 countries that together comprise 40 percent of global GDP.
“We are very grateful to CMG for their support and hope that this partnership will inspire more collaborations with leading business in Asia. It will help build sustainable immunisation programmes as well as strengthen health systems that will benefit children for generations to come,” said Seth Berkley, CEO of Gavi.
The contribution will also be matched by the Bill & Melinda Gates Foundation via the Gavi Matching Fund. By bringing capital from the private sector into its programme, Gavi said it can ensure costs for the manufacture and distribution of vaccines are covered for the next two to three years.