Release date: 30 August 2021
Promoter – Financial Intermediary
MINISTRY OF HEALTH AND FAMILY WELFARE - PEOPLE'S REPUBLIC OF BANGLADESHLocation
Description
The project seeks to support the Government in Bangladesh to finance interventions for the emergency response against the COVID-19 crisis (with a gradual shift of focus from acute diagnosis and treatment to a prevention-oriented vaccine-based approach) and possibly midterm pandemic preparedness and health system resilience interventions.
Additionality and Impact
The project will provide the Government of Bangladesh with timely financing for procuring safe and effective vaccines against the coronavirus disease (COVID-19) based on an agreed list of eligible expenditures. This project supports the Bank's objectives of enhancement of sustainable social and human development through improved health, education and nutrition services. The operation addresses the provision of health services for COVID-19 that is considered as a Global Public Good. In particular, immunisation is one of the most effective investments in global health and has a crucial role in achieving 14 of the 17 United Nations Sustainable Development Goals (SDGs). As one of the most far-reaching health interventions, it closely reflects the ethos of the SDGs: "leaving no one behind". The project targets priority areas for strategic development cooperation in Bangladesh by improving human capital and health care, and promoting gender equality. The partnership between the Bank, the EU Commission and Member States and other public and private donors in the fight of COVID-19 in LMICs pursues the SDG 17 - Strengthen the means of implementation and revitalise the global partnership for sustainable development and is at hearth of the efforts by the Team Europe. As such, the operation is fully aligned with the objectives of the Team Europe package, which aims to support partner countries in the fight against the pandemic and its consequences. The project addresses a substantial market gap in the availability of needed financial resources to tackle the pandemic, including the open and fair access to COVID-19 vaccines. EIB financing with its favourable terms will allow for fiscal stability and support an accelerated economic recovery from the COVID-19 shock, which had a negative impact on Bangladesh to date.
Objectives
The project aims to support the government of Bangladesh to contain the COVID-19 pandemic through the deployment of emergency response and pandemic preparedness interventions (including vaccines purchasing and vaccination campaigns) and implementing health sector resilience measures.
Sector(s)
- Health - Human health and social work activities
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 450 million
Environmental aspects
The Bank will require the promoter to ensure that the implementation of the project will be done in accordance with the Bank's Environmental and Social principles and standards.
Procurement
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.
Status
Signed - 29/12/2021
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).