WASHINGTON, United States (CMC) — The Pan American Health Organisation (PAHO) says that its Regional Revolving Funds to assist countries in the Americas including the Caribbean had increased its investments in vaccines, medicines and health technologies last year as compared to 2023.

It said among its 2024 milestones, the Regional Revolving Funds, which is a pooled procurement mechanism, had been able to purchase 224 million vaccine doses.

PAHO said currently, 32 countries and territories of the region access at least 80 per cent of their total need for vaccines and related supplies through the fund.

The fund also purchased over 10 million diagnostic tests including rapid tests for the swift diagnosis of diseases such as HIV, malaria and leishmaniasis, among others, as well as treatment for a range of communicable diseases and non-communicable conditions including Hepatitis, tuberculosis and diabetes.

“Ensuring that countries of the Americas have access to the vaccines, essential medical supplies and equipment necessary to promote the health of their populations is the executive manager at PAHO’s Regional Revolving Funds.

The PAHO Revolving Funds has been key to facilitating the provision of more cutting-edge, high-cost medicines to the region. The fund recently joined the Global Platform for Access to Childhood Cancer Medicines, a joint initiative between the World Health Organisation (WHO) and St Jude Children’s Research Hospital to distribute critically needed childhood cancer medicines.

PAHO said that the fund is a crucial means through which to support the regional production of vaccines, medicines and medical supplies.

“The lessons learned from the pandemic show us that supporting regional production is essential to building a more resilient region and fostering economic growth,” Cornejo said, adding “providing manufacturers with a ready-made consumer base, and ensuring that countries can access these goods at competitive prices is key to achieving this”.