The European Commission, the European Investment Bank (EIB), and the Bill & Melinda Gates Foundation have joined forces to unveil a momentous financing partnership aimed at addressing pressing global health concerns, specifically targeting the eradication of polio and the enhancement of healthcare accessibility for underserved populations. The implementation of this ambitious endeavor will be facilitated by the World Health Organization (WHO) and UNICEF, who will manage resources allocated towards polio eradication, the distribution of childhood immunizations, and the fortification of healthcare systems to bolster their readiness in the face of emerging health crises.
The comprehensive €1.1 billion financing package aspires to channel fresh resources towards eradicating a human ailment for only the second time in recorded history. It also strives to tackle the intricate health and development dilemmas faced by the world’s most vulnerable communities, who are typically marginalized from healthcare services and innovations.
Ursula von der Leyen, President of the European Commission, stated, “We are on the cusp of eradicating polio from the face of the Earth. The European Commission, EIB, and the Bill & Melinda Gates Foundation have partnered to complete the final stretch. Supported by 1 billion euros through our European investment strategy Global Gateway, we aim to invest in robust global health systems and local vaccine and medicine production and administration where it is needed most. The success of global collaboration in ending the COVID-19 pandemic now emboldens us to eliminate polio for good.”
This collaboration signifies a substantial augmentation in global health funding and human development efforts through the European Commission’s European Fund for Sustainable Development plus (EFSD+). Additionally, it is projected to encompass complementary funding from the Bill & Melinda Gates Foundation, thereby maximizing the impact of each Euro committed by the EU and the European Investment Bank.
Werner Hoyer, President of the European Investment Bank, expressed, “Today, we unite to script the final chapter in the history of polio. The European Investment Bank plays a unique role in this partnership, collaborating with philanthropic and health partners by providing €500 million to support the Global Polio Eradication Programme. This initiative marks a pivotal moment in the expansion of immunization and healthcare enhancement, guaranteeing that every child, irrespective of their circumstances, is shielded against polio.”
In order to expedite the elimination of wild poliovirus, the partnership aspires to direct €500 million towards the Global Polio Eradication Initiative, primarily the WHO and UNICEF. These funds will encompass polio vaccinations for nearly 370 million children annually, provision of essential healthcare services to children alongside polio campaigns, including measles vaccines and other routine immunizations, and the strengthening of healthcare systems for a more effective response to emerging health threats.
Bill Gates, co-chair of the Bill & Melinda Gates Foundation, remarked, “Thanks to medical innovations, the world eradicated one human disease – smallpox. Today, we stand on the brink of ending another – wild poliovirus. I am resolute in ensuring that no child, anywhere in the world, succumbs to this dreadful disease. I am also optimistic that we will obliterate polio once and for all and make healthcare innovations more accessible to everyone, especially those in the most impoverished countries.”
An additional €500 million is aimed at expanding the innovation capacity of healthcare systems in low- and middle-income countries. This includes funding for initiatives endorsed by the European Commission to make innovations like mRNA-based vaccines and therapeutics more accessible to individuals in low- and middle-income countries under Europe’s investment plan for the world, Global Gateway. Further discussions on global health investments will transpire among world leaders and partners at the forthcoming Global Gateway Forum on October 25-26.
Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation, emphasized, “Thanks to the leadership and collaboration of the European Commission and European Investment Bank, vaccines, medicines, and other life-saving innovations will reach those in dire need, enhancing the health of communities across the globe. We understand that when communities are healthy, economies flourish.”
Dr. Tedros Adhanom Ghebreyesus, WHO Director-General, stated, “Reaching un- or under-vaccinated children in the most remote and inaccessible regions is imperative to completing the task of polio eradication. These newfound funds will not only propel us toward a polio-free world but will also aid in establishing more resilient and sustainable healthcare systems to safeguard the same children and communities at risk of polio against myriad other health threats.”
Catherine Russell, UNICEF Executive Director, underscored, “Polio eradication is within reach, but the progress is precarious, and we must remain steadfast. This new funding will ensure that every child is immunized to vanquish polio while enhancing community-based healthcare systems. No child should endure a preventable malady.”
The funding partnership is expected to include:
- €500 million in new funding for the Global Polio Eradication Initiative.
- €500 million in investments and grants to facilitate greater accessibility to health innovations, bolster healthcare systems, and prepare for future pandemics, with €250 million in grants and investments provided by the Bill & Melinda Gates Foundation to match a €250 million investment by the European Investment Bank.
- €80 million in grants for Technical Assistance, comprising a €40 million grant from the European Commission, to provide technical support and ensure that global health programs attain their maximum potential.
This collaboration builds upon existing partnerships between the Bill & Melinda Gates Foundation and the European Commission and its Member States, including a €100 million support package for the newly established African Medicines Agency (AMA) and African medicines regulatory agencies or regional initiatives. It further encompasses the African Health Diagnostics Platform, which seeks to enhance access and reduce laboratory testing costs. The partners have previously coordinated on health initiatives such as COVAX, a global collaboration aimed at accelerating the development, production, and equitable access to COVID-19 tests, treatments, and vaccines.
