EIB increases support for COVAX

13-05-2021
EIB increases support for COVAX
EIB increases support for COVAX
Copyright: EIB

€1.5 billion of new financing approved by the European Investment Bank (EIB) yesterday will strengthen support for global distribution of COVID-19 vaccines through the Covax initiative, improve green energy generation and distribution, bring investment to cities, health, education, and water, and enhance access to finance by business.

The Bank agreed to provide an additional €200 million to scale up access to COVID-19 vaccines through the COVAX Advance Market Commitment mechanism. This follows €400 million of EIB financing for COVAX agreed last December, which represented the EIB’s largest ever support for global public health.

The new EIB financing for COVAX is expected to be guaranteed by the European Fund for Sustainable Development and strengthen Team Europe support for COVAX alongside grant support from the European Commission.

 

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Press release