An “innovative” partnership to boost vaccine security across Southeast Asia will inject up to $650 million into regional manufacturing, in a bid to reduce reliance on imported shots.

The five-year initiative, announced at the annual meetings of the World Bank and International Monetary Fund in Bangkok on Friday, will see major lenders, non-profits, and the private sector come together to invest in the region’s vaccine industry .

Currently Southeast Asia’s production base remains limited and exposed. The majority of shots are imported, and any capacity the region does have is highly concentrated – one analysis this year estimates 60 to 90 per cent sits with a single vaccine manufacturer.

Even before Covid-19 hit, this vulnerability was recognised.…