EU increases its contribution to COVAX to €500 million to secure COVID-19 vaccines for low and middle-income countries

 European Commission, Nov. 12, 2020

The Press Release of EU indicated that EU will contribute an additional €100 million in grant funding to support the COVAX Facility to secure access to the future COVID-19 vaccine in low and middle-income countries. The funds will complement the €400 million in guarantees the EU already committed for COVAX, making the Union one of the leading donors. With this new contribution, the EU is further stepping up investment in support of the global recovery.

 

At the virtual Paris Peace Forum, where world leaders and international organizations are discussing the global response and the recovery from the pandemic, President of the European Commission, Ursula von der Leyen, said: “In the midst of the wrecking COVID-19 pandemic, it is clear that a global recovery will only be possible if safe and effective vaccines are available to all who need it. The EU is increasing its support to the COVAX Facility to this end and I am proud that Team Europe is a leading contributor to COVAX. Together, we can make the global recovery happen."

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The EU's participation in COVAX will be complementary with the ongoing EU negotiations with vaccine companies launched under the EU Vaccines Strategy. The EU's efforts to develop and produce an effective vaccine will benefit all in the global community. The EU investment in scaling up manufacturing capacity will be to the service of all countries in need. Through its Advanced Purchase Agreements, it requires manufacturers to make their production capacity available to supply all countries and calls for the free flow of vaccines and materials with no export restrictions. For instance, the pharmaceutical company Sanofi-GSK, with whom the Commission concluded an Advanced Purchase Agreement in September, will endeavour to provide a significant portion of their vaccine supply through the COVAX facility.

 

In full: https://ec.europa.eu/commission/presscorner/detail/en/ip_20_2075

EU increases contribution to COVAX to €500 million (Download PDF)