On Friday 18 September, the European Commission confirmed that it will be participating in the COVAX facility, an initiative for equitable access to affordable Covid-19 vaccines worldwide that is operating under the aegis of GAVI (the Vaccine Alliance), CEPI and WHO.
At the same time, it also set out the source of the €400 million in guarantees which, on 31 August, it announced it intended to mobilise for this purpose (see EUROPE 12549/3).
The EU, its Member States and the European Investment Bank (‘Team Europe’) will therefore be making an initial contribution of €230 million via an EIB loan, which will be backed by the same amount in guarantees from the EU budget.
The Commission said in a press release that a contribution of €230 million is equivalent to reserves or call options for 88 million doses that the EU would transfer to countries eligible for the Advanced Market Commitment (AMC).
This contribution will be complemented by €170 million in financial guarantees from the EU budget. (Original version in French by Aminata Niang)