EIB welcomes progress on COVAX support for global access to COVID-19 vaccines
3 February 2021
The President of the European Investment Bank today welcomed publication of the first interim distribution forecast of the COVAX initiative marking a key step in enabling equitable global access to COVID-19 vaccines.
“COVAX shows how multilateral cooperation can help to tackle the global impact of COVID-19. Today’s confirmation of the first distribution of COVID-19 vaccines to vulnerable groups and front-line health workers around the world brings hope to millions. The EUR 400 million EIB support for COVAX, as part of Team Europe, was crucial to make this distribution possible, because early contributions to COVAX-AMC have led to earlier availability, which is the critical impact of the EU Bank’s support for vaccine equity.” said Werner Hoyer, President of the European Investment Bank.
Publication of the interim distribution will enable national vaccination programmes to be planned by governments and health systems around the world. Final allocations will be published in due course.
Last December the European Investment Bank agreed to provide €400 million of financing to support the participation of low and middle income economies in COVAX Advance Market Commitment (COVAX AMC) as part of Team Europe’s support for the multilateral initiative. This has helped to accelerate up-front investment essential to deliver vaccine doses as soon as they become available.
The COVAX initiative aims to reach at least 20% of the population of lower-income countries across the world in 2021.
Werner Hoyer, President of the European Investment Bank, today highlighted the crucial need to increase financial support to ensure access to COVID-19 vaccines in low and middle-income countries around the world through the COVAX initiative.
President of the European Investment Bank Werner Hoyer today welcomed global engagement to scale up support for the international COVAX vaccine-access facility. Today’s G7 summit is dedicated to vaccination and will help to accelerate international cooperation to tackle the COVID-19 pandemic.
Fair and equitable access to a successful COVID-19 vaccine, regardless of income, for millions of people across Africa, Asia, the Caribbean and Pacific, and in Europe’s eastern and southern neighbourhood, has been enabled by €500 million of new European financial support for the global vaccine initiative COVAX. Team Europe’s engagement will accelerate global efforts to bring the pandemic under control and scale up distribution of a successful vaccine as soon as it becomes available.