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EU Commission Joins The COVAX Facility

The EU Commission announced on 31st August a contribution of €400 million in guarantees to support The COVID-19 Vaccine Global Access Facility (COVAX)

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Transcontinental Times Staff
Transcontinental Times Staffhttps://www.transcontinentaltimes.com
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BRUSSELS. The EU Commission has confirmed its interest to take part in the COVAX Facility for fair access to affordable COVID-19 vaccines everywhere, for everyone who needs them. As part of a Team Europe effort, the Commission announced on 31st August a contribution of €400 million in guarantees to support COVAX and its objectives in the context of the Coronavirus Global Response.

COVAX is the vaccines pillar of the ACT-Accelerator, a global collaboration to accelerate the development, production, and equitable access for all countries across the world to COVID-19 tests, treatments, and vaccines.

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Ursula von der Leyen, President of the European Commission, said: “Global collaboration is the only way to overcome a global pandemic. Under the Coronavirus Global Response and the Global Goal Unite campaign, we have seen the world come together as one. Almost €16 billion have been pledged so far and the most talented researchers and organisations are pooling their efforts to deliver vaccines, tests and treatments, which will be our universal, common good. The Commission is announcing a €400 million contribution to COVAX for working together in purchasing future vaccines to the benefit of low and middle-income countries. I’m confident this will bring us closer to our goal: beating this virus, together.”

The COVAX Facility, co-led by Gavi, the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI) and WHO, aims to accelerate the development and manufacture of COVID-19 vaccines and to guarantee fair and equitable access for every country in the world.

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Read also EU Commission Proposes To Provide €81.4 Billion Financial Support To 15 EU States

As part of a EU joint engagement (Commission, Member States and European financial institutions, notably EIB) to mobilise resources for the Coronavirus Global Response, the Commission intends to mobilise up to €400 million in guarantees to support COVAX and its underlying objectives as part of a Team Europe effort. The detailed terms and conditions for the EU’s participation and contribution will be worked out in the coming days and weeks. Team Europe is ready to put its expertise and resources at work within COVAX to accelerate and scale-up development and manufacturing of a global supply of vaccines for citizens across the world, in poor and rich countries.

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Stella Kyriakides, Commissioner for Health and Food Safety, said: “It is only by working together globally, in solidarity, that we can defeat the coronavirus. We need an inclusive international approach and as we are showing today, Team Europe – European Commission and EU Member States – is committed to ensuring the success of the COVAX Facility and facilitating access to a vaccine in an equitable manner for all people across the world.”

The EU’s participation in COVAX will be complementary to the ongoing EU negotiations with vaccine companies that aim at scaling up manufacturing capacity of vaccine producers, contributing to global efforts.

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