The African Vaccine Acquisition Trust (AVAT) launched a No-Fault Compensation Scheme (NFCS) for COVID-19 vaccinations in participating African and Caribbean countries on Tuesday in Abidjan, Cote D’Ivoire.
For improbable adverse effects connected with COVID-19 vaccinations bought or delivered under the AVAT program, the AVAT NFCS offers eligible persons fast, fair, and open compensation.
The AVAT NFCS is the first of its kind to be developed by an African consortium, according to reports.
The African Union (AU), Afreximbank, Africa CDC, and the United Nations Economic Commission for Africa (ECA) are driving the AVAT NFCS (UNECA).
Other partners include ECONET and its to be administered by ESIS, a wholly-owned subsidiary of Chubb Insurance Company.
AVAT acts as a centralized purchasing agent on behalf of the AU Member States, to secure the necessary vaccines and blended financing resources for achieving Africa’s COVID-19 vaccination strategy.
It is designed to reinforce public trust that in the unlikely event of adverse effects related to COVID-19 vaccination, quick and easy access to compensation is guaranteed.
Building this confidence is essential for achieving widespread vaccine adoption
Speaking on the sidelines at the event, Prof. Benedict Oramah, President and Chairman, Board of Directors, Afreximbank, highlighted the functions and benefits of the scheme.
He said: “The AVAT NFCS provides eligible individuals with prompt, fair and transparent compensation for unlikely adverse events associated with COVID-19 vaccines procured or distributed under the AVAT initiative.
“It is a framework designed to support the vaccinations delivered under the AVAT scheme.
“The principle of the No-Fault compensation scheme is that manufacturers as well as the public and even individuals want to be protected because of the way vaccines were developed in a very expedited manner.
“It was not normal. What would have taken five to seven years was done within one year to 18 months.
“So, it was important that a compensation scheme be put in place, so that should severe adverse events occur, people will have a predictable way of getting compensated.
“For Africa, it was not easy with 55 countries and smaller economies. It was becoming a challenge.
“We had to work to put in place a continent-wide framework to make it possible for those who wouldn’t have been able to do it, to do it. Without it, they wouldn’t have had access to vaccines in the first place.”