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    Reference: 20200498
    Release date: 3 September 2020

    Promoter – Financial Intermediary

    WORLD HEALTH ORGANISATION

    Location

    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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Health