Release date: 12 March 2021
Promoter – Financial Intermediary
Project to support the supply of COVID-19 vaccines for low- and middle-income countries via the COVAX Advance Market Commitment (AMC) framework co-led by Gavi.
The project will contribute to fund the access to successful COVID-19 vaccines by countries in African, Caribbean and Pacific (ACP) countries, Asia and Latin America eligible under 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.
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 400 million
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.
Approved - 5/05/2021
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).