The European Commission will contribute €400 million, or some 88 million doses of coronavirus vaccines for poor countries.
In a press release on Friday, the Commission said that €230 million will be awarded in the form of a loan by the European Investment Bank, under the banner “Team Europe”. It will be part of the EU efforts to secure a global equitable distribution of the latest coronavirus vaccine.
The money will be transferred to eligible low and middle income countries, but the details are still under discussion.
The remaining €170 million will be given as guarantees from the EU budget.
The Commission urged “manufacturers to make their production capacity available to supply all countries” and called for the “free flow of vaccines and materials with no export restrictions.”
