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BRUSSELS, September 18, 2020 – The European Commission today confirmed its participation in the COVAX Fund for Equitable Access to Affordable COVID-19 Vaccines, following its expression of interest on August 31 and its announcement of a contribution of € 400 million .
In a joint effort between the European Commission and the 27 EU Member States, Team Europe will contribute an initial € 230 million in cash through a loan from the European Investment Bank, backed by the same amount in guarantees provided by the budget. of the EU. A contribution of 230 million euros is equivalent to reserves or options to buy 88 million doses and the EU would transfer them to countries eligible for the Advanced Market Commitment (AMC). This contribution is complemented by € 170 million in financial guarantees from the EU budget.
Ursula von der Leyen, President of the European Commission, said: “It is not enough to find a vaccine. We must ensure that citizens around the world have access to it. Our strong commitment to the COVAX facility is one more signal to all citizens who need the vaccine that we support them, wherever they are. No one is safe until everyone is safe. “
Stella Kyriakides, Commissioner for Health and Food Safety, said: “Being part of the COVAX Facility means ensuring its success and providing access to vaccines for low- and middle-income countries. It means guaranteeing access not only to those who can afford it, but to all citizens of the world. And it means showing solidarity and global leadership. Only together can we overcome COVID-19 ”.
Jutta Urpilainen, Commissioner for International Associations, said: “With this contribution to COVAX, the EU is showing that we are serious about leaving no one behind. Future COVID-19 vaccines shouldn’t be a luxury for the rich, but a global public good. We need to ensure that those most in need have access to it regardless of where they live. “
The COVAX Center, co-chaired by Gavi (the Vaccine Alliance), the Coalition for Innovations in Epidemic Preparedness (CEPI) and WHO, aims to accelerate the development and manufacture of COVID-19 vaccines and ensure fair access and equitable for all countries in the world.
The Commission, Member States and European financial institutions, in particular the EIB, jointly committed to mobilizing resources for the global response to the coronavirus. The Commission is participating with € 400 million in cash and guarantees to support COVAX and its underlying objectives as part of an effort by Team Europe. Detailed terms and conditions for EU participation and contribution are currently being worked out among all stakeholders. Team Europe is ready to bring expertise and resources to the COVAX facility to accelerate and scale the development and manufacture of vaccines for citizens around the world, in rich and poor countries.
The EU’s participation in COVAX will be complementary to the EU’s ongoing negotiations with vaccine companies initiated under the EU Vaccine Strategy. The EU’s efforts to develop and produce an effective vaccine will benefit everyone in the global community. The EU investment in expanding manufacturing capacity will serve all countries that need it. Through its Advanced Purchase Agreements, it requires manufacturers to make their production capacity available to supply all countries and requests the free flow of vaccines and materials without export restrictions. For example, the pharmaceutical company Sanofi-GSK with which the Commission entered into an Advance Purchase Agreement today will endeavor to provide a significant portion of its vaccine supply through COVAX facilities.
Background
COVAX is the vaccine pillar of the COVID-19 Tool Access Accelerator (ACT), a global collaboration to accelerate development, production, and equitable access to COVID-19 tests, treatments, and vaccines.
The COVAX Facility aims to purchase 2 billion doses by the end of 2021. It will help develop a diversified portfolio of vaccines, negotiated with different suppliers and covering different scientific technologies, delivery times and prices. The COVAX facility is a risk-sharing mechanism: it reduces the risk for manufacturers who invest without being sure of future demand, and it reduces the risk that countries will not be able to secure access to a viable vaccine.
The European Commission is committed to ensuring that everyone who needs a vaccine receives it, anywhere in the world and not just at home. No one will be safe until everyone is safe. For this reason, it has raised almost 16,000 million euros since May 4, 2020 within the framework of the Global Response to Coronavirus, the global action for universal access to tests, treatments and vaccines against the coronavirus and for global recovery. Team EuropeThe contribution was: EU Member States (3.1 billion euros), European Commission (more than 1.4 billion euros) and EIB (almost 2 billion euros pledged in May and 4.9 billion euros pledged in June).
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European Commission / Brussels
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