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HomeHealthEU to Earmark $477m to Ensure Poor Countries Get COVID Vaccine

EU to Earmark $477m to Ensure Poor Countries Get COVID Vaccine

By ADAMU BEZHE

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The European Commission will allocate 400 million euros ($477.5 million) in guarantees to the global Covax Facility, a mechanism designed to accelerate the development and fair distribution of an effective coronavirus vaccine, according to agency reports.

The allocation will also ensure future vaccine’s supplies reached low- and middle-income countries, European Commission President Ursula von der Leyen said on Monday.

“A true moment of global solidarity: @EU_Commission will provide €400 mil. in guarantees to #COVAX to buy & deliver vaccines to low & middle-income countries. Together we make all efforts to speed up development & delivery of coronavirus vaccines to Europeans & rest of the world,” von der Leyen wrote on Twitter.

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The president also said that the European Commission continued in parallel negotiations with pharmaceutical companies to purchase doses of the future possible COVID-19 vaccines on behalf of the EU member states.

Last week, the European Commission signed a contract with the UK-based pharmaceutical company, AstraZeneca, for the purchase of 300 million doses of the vaccine against the coronavirus, which will be available to all EU member states, with an option for a further 100 million doses to be bought.

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The contract will also allow the donation to lower- and middle-income countries or redirection to other European countries.    

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