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    Signature(s)

    Amount
    € 400,000,000
    Countries
    Sector(s)
    Mediterranean Countries : € 100,000,000
    Regional - Africa : € 300,000,000
    Health : € 400,000,000
    Signature date(s)
    11/12/2020 : € 100,000,000
    11/12/2020 : € 130,000,000
    11/12/2020 : € 170,000,000

    Summary sheet

    Release date
    7 October 2020
    Status
    Reference
    Signed | 11/12/2020
    20200604
    Project name
    Promoter - financial intermediary
    COVID-19 VACCINE VOLUME ALLOCATION (COVAX)
    GAVI ALLIANCE
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 400 million
    EUR 1000 million
    Location
    Sector(s)
    • Health - Human health and social work activities
    Description
    Objectives

    The operation consists of a contingent loan to monetise the participation of European Member States and the European Commission (EC) directly to Gavi (as manager of COVAX) to support the supply of COVID-19 vaccines for low- and middle-income countries eligible under the EC European Fund for Sustainable Development and the Gavi COVAX Advance Market Commitment (AMC) framework.

    The project will contribute to fund the procurement of successful COVID-19 vaccines by countries in sub-Saharan Africa and the European Neighbourhood eligible under the Investment Facility and the EC's External Investment Plan (AHDP) and the Gavi COVAX AMC framework. The project looks to support the pioneering COVAX initiative, which aims to provide innovative and equitable access to COVID-19 vaccines to all economies, regardless of income levels. This would be fundamental to end the COVID-19 pandemic as soon as possible and save as many lives as possible - avoiding a catastrophe in emerging countries.

    Environmental aspects
    Procurement

    The EIB funding will be directed to COVAX investments in vaccine development and manufacturing capacity that are expected to be carried out in facilities owned by pharmaceutical companies and / or other research centres as authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Full environmental details of the supply chain of the project will be verified during the appraisal.

    The Bank will require the Promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement (GtP). Due to the peculiar features of this transaction, certain derogations might be sought to the GtP and submitted for approval to the EIB's Board of Directors.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - COVID-19 VACCINE VOLUME ALLOCATION (COVAX)
    Publication Date
    18 Dec 2020
    Document language
    Main Topic
    Lending
    Document Number
    134084303
    Document Focus
    Environmental Information
    Project Number
    20200604
    Sector(s)
    Publicly available
    Download now

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