Today, the European Investment Bank approved 400 million euros in funding to support the participation of low- and middle-income economies to reach a successful COVID-19 vaccine, regardless of income, for millions of people across Africa, Asia, the Caribbean and the Pacific, and in Eastern and Southern Europe.
This rapidly approved funding, guaranteed by the European Fund for Sustainable Development and along with a € 100 million grant from the European Commission to support COVAX AMC, will support access to safe and effective Covid vaccines in 92 low and middle income countries.
This enables COVAX, a multilateral initiative aimed at ensuring fair and equitable access globally, to accelerate the first investment necessary to deliver vaccine doses as soon as they become available.
This vital funding from the European Commission and the European Investment Bank ensures that low-income economies are not neglected when a safe and effective coronavirus vaccine is available, and the support of the Europe team will play a vital role in ending the acute phase of this epidemic.
The European Commission and the European Investment Bank are strong supporters of Kovacs, which is the global facility for ensuring equitable and universal access to Covid vaccines, together with the member states of the European Union.
Team Europe has so far allocated more than 850 million Euros to COVAX, making the European Union the largest donor.
The President of the European Commission, Ursula von der Leyen, said that the joint support of the European Commission and the European Investment Bank of 500 million euros will enable Kovacs to provide one billion doses of vaccines as quickly as possible to people in low and middle-income countries.
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