European Investment Bank and CEPI Partner to Accelerate Vaccine Development

Strategic Insights -

The European Investment Bank (EIB) and the Coalition for Epidemic Preparedness Innovations (CEPI) have signed a landmark advisory agreement to collaborate on innovative financing schemes for vaccine development globally. This partnership aims to support projects that can help combat emerging infectious diseases, including the current COVID-19 pandemic. The EIB will provide strategic financial advice and support to CEPI and its members, enabling them to navigate funding options and access large-scale vaccine development projects. The partnership was announced alongside a European Union-led global Pledging Conference to raise an initial Euros7.5 billion to end the pandemic.

Key Takeaways:

  • The EIB will provide CEPI and its members with extensive knowledge sharing and support to navigate the financing schemes that exist within and beyond the EIB, in order to bring vaccine projects to life.
  • The EIB will work with CEPI to identify relevant vaccine development projects, and provide strategic financial advice and support to help deploy large-scale vaccine development projects around the world.
  • The partnership will explore ways to improve the overall financing ecosystem for investments in pandemic preparedness, including the development of new financing mechanisms to mobilize public and private capital.
  • CEPI has initiated 9 partnerships to advance COVID-19 vaccine candidates into clinical testing as quickly as possible.
  • The EIB has a pipeline of potential investments in vaccine, treatments, and diagnostics for the fight against COVID-19, and is building manufacturing capacity globally.

Statistics:

  • The EIB has invested more than EUR 210 billion in innovative projects, R&D, and skills and training since 2000.
  • The Bank has provided a total of over Euros30 billion for healthcare-related projects around the world by December 2019.
  • The average yearly lending to the sector is Euros1.4 billion for some 20 projects.
  • CEPI has so far initiated 9 partnerships to advance COVID-19 vaccine candidates into clinical testing.

Sources:

  • European Investment Bank press release, April 30
  • CEPI website, about page
  • European Investment Bank website, about CEPI partnership
  • European Commission Horizon 2020 website, InnovFin program
  • CEPI website, priority diseases and COVID-19 response