Team Europe contributes 500 million euros to COVAX initiative

Fair and equitable access to a successful COVID-19 vaccine, regardless of income, for millions of people across Africa, Asia, the Caribbean and Pacific, and in Europe’s eastern and southern neighborhood, has been enabled by 500 million euros ($607 million) of new European financial support for the global vaccine initiative COVAX.

Team Europe’s engagement will accelerate global efforts to bring the pandemic under control and scale up distribution of a successful vaccine as soon as it becomes available.

The European Investment Bank yesterday agreed 400 million euros of financing to support the participation of low- and middle-income economies in COVAX Advance Market Commitment (COVAX AMC).