Dr. Werner Hoyer, President of the European Investment Bank at the AMR Fund Launch Video Conference, Berlin
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Ladies and gentlemen, Dr Tedros,
It is my pleasure to be here with you today.
Only a few months ago we were not aware how strong the link between public health and the global economy is.
…And we did not fully understand the societal value of being prepared facing health challenges.
Learning from today’s crisis, we need to continue investing in building up the resilience of countries and health systems to deal with crises wiping out years of efforts for sustainable development.
Looking beyond COVID-19, antimicrobial resistance comes as a next challenge and a growing threat to public health.
Regrettably, all efforts in the past were not enough to fill an immense investment gap and to deliver novel treatment options against priority pathogens.
It is of utmost importance that we act now to better cope with expected greater resistance in the future.
…This is where patient investors must come in.
…And this Fund has the potential to start turning things around.
This is also instrumental for Europe’s knowledge economy and long-term prosperity:
- pursuing innovation-intensive businesses [like the ones participating today];
- employing highly qualified people;
- and providing benefit for society at large.
In this field, no success can be achieved without the value created by partnerships, in this case with the industry, with philanthropies and with the World Health Organization and Wellcome Trust.
We are proud of teaming up with you in the Fund’s initiation group.
So, how can the European Investment Bank contribute?
We set up specific financial instruments to address market failures in the health sector.
Currently, we are stepping up our efforts in health and life science, mainly with the aim, and the hope, to contribute to finding solutions for the huge needs related to COVID-19.
But our nature is the one of forward-looking investors.
And, in line with our mandate of EU Bank, we consider the support of innovation in health a priority:
- re-launching Europe’s competitiveness;
- crowding-in private investors;
- and channelling financial resources to societal challenges like AMR [through the issuance of Sustainability Awareness Bonds, dedicated to the health sector].
Thank you very much again, to all partners, for this initiative.