Release date: 3 September 2020
Promoter – Financial Intermediary
WORLD HEALTH ORGANISATIONLocation
Description
The project concerns supporting the global COVID-19 Supply Chain Scheme (CSCS) set up by the World Heath Organization (WHO) together with other major international UN agencies, which would ensure access to essential supplies intended primarily for the medical needs of Lower- and Middle-Income Countries (LMICs) to fight the COVID-19 pandemic: (i) life-saving personal protective equipment, molecular diagnostics and testing and other clinical support supplies, and (ii) Rapid Diagnostic Tests (RDTs).
Objectives
The project would tackle current market failures in global health by supporting, through financial instruments, the countries' preparedness and response efforts in the fight against COVID-19 pandemic and addressing the gaps in their access to medical emergency supplies such as personal protective equipment, diagnostic and testing kits and other clinical care devices. This will improve the ability of lower- and middle-income countries in sub-Saharan Africa to provide citizens access to critical health equipment and services during the COVID-19 pandemic. The operation would support a regional/global mechanism that is put in place by the WHO for security stockpiles of essential medical supplies. This has further upstream positive impact towards manufacturing channels and optimising distribution networks.
Sector(s)
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 350 million
Total cost (Approximate amount)
EUR 400 million
Environmental aspects
The Bank will require that implementation of the project be done in line with the principles of EU environmental legislation and EIB Environmental and Social Standards. However, considering that the Promoter, the WHO, is an international organisation belonging to the UN agencies, it is envisaged that the WHO's environmental and social standards will follow the best international practices and principles, hence fundamentally complying with the Bank's requirements.
Procurement
The Promoter, the World Health Organization ("WHO") is an international organisation and a specialised United Nations agency with a constitutional mandate as the Directing and Coordinating authority on international health work. The procurement policy and procedures of the WHO follows the same key principles as the EIB Guide to Procurement, which can be summarised as economy, efficiency, non-discrimination and international competition. Moreover, the governance and control structures in place in such a multilateral agency is expected to be robust and in line with best international practice, not requiring the EIB's step-by-step monitoring as is the case with public promoters outside the EU. In conclusion, the Promoter will not be subject to the Guide to Procurement and may follow the WHO's procurement policy and procedures under the project.
Status
Approved - 29/07/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).