Launch of AMCs in Rome

CGD Blog -- Greetings from Rome, where Italy, Canada, Russia, Norway and the UK, with the World Bank, GAVI and the Gates Foundation, have launched the first Advance Markets Commitment. The first AMC will target pneumococcal disease, costing about $1.5 billion and expected to prevent more than 5 millions deaths by 2030. Governments will create an incentive for private sector investment in the development and production of life-saving vaccines, by guaranteeing to pay for a suitable vaccine, meeting international standards, when it is developed. The agreement includes long run sustainability by ensuring that the vaccine will be available to developing countries at low prices once the Advance Market Commitment is exhausted.

This proposal, originally made by Michael Kremer, was developed by a Working Group convened by CGD. That group coined the term Advance Market Commitment, and set out the main elements of the policy that has now been announced.

This is a remarkable tale of how an idea developed by a brilliant academic has entered into the highest levels of policy, leading to discussion at G7 Finance Ministers meetings and culminating in today's announcement. There can be few examples of academic research translating into practical policies in such a short time.

To read more click the following two links:

http://blogs.cgdev.org/globalhealth/archive/vaccines/

http://news.bbc.co.uk/1/hi/uk_politics/6345587.stm