EIB Approves Funding for COVAX Logistics Initiative

EIB Approves Funding for COVAX Logistics Initiative

The European Investment Bank Board of Directors have approved the EIB Group Climate Bank Roadmap 2021-2025 that will guide future

EIB financing to support EUR 1 trillion of climate action and environmental sustainability investments by 2030, and align all financing activities with the principles and goals of the Paris climate agreement by the end of 2020.

The EIB approved EUR 7.8 billion of new financing to support investment by business impacted by COVID-19, alongside backing clean transport, sustainable urban development, renewable energy, health and education investment across Europe and around the world.

This includes EUR 400 million for the international COVAX initiative to ensure fair and equitable access to successful COVID-19 vaccines in Africa and scale up vaccine manufacturing in 92 developing and emerging economies alongside dedicated financing to help tourism companies impacted by the pandemic.

The EIB approved EUR 1.8 billion for medical research, new hospitals and public health investment and local lending schemes to strengthen private sector reliance to the economic shocks of COVID-19.

Since the outbreak of COVID-19, the EIB has approved more than EUR 27 billion of new financing to enable public and private partners across Europe around the world to better tackle health, social and economic challenges.

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