PARIS: The European Union and its Member States announced that they will contribute over pound 750 million (more than US$800 million), including close to pound 220 million (US$233 million) from the EU budget, to the African Vaccines Manufacturing Accelerator (AVMA) launched today in Paris.

Through this innovative instrument, developed by Gavi, the Vaccine Alliance together with Africa Centres for Disease Control and Prevention (Africa CDC), it will be possible to enhance the predictability of demand for vaccines made in Africa. Importantly, it will also support the sustainable growth of Africa’s manufacturing base and contribute to the African Union’s ambition to produce most vaccines required by African countries on the continent.

The EU and its Member States France, Germany, Ireland, Italy and Luxembourg are together the largest contributor to the initiative. AVMA will further complement the existing Team Europe initiative on Manufacturing and Access to Vaccines, Medicines and Health Technologies in Afric
a (MAV+).

The African Vaccine Manufacturing Accelerator is expected to purchase more than 800 million doses produced in Africa over the next decade. It also has the potential to improve African pandemic and outbreak preparedness and response and support global health security. For these purposes, it will make more than pound 1 billion (US$1.1 billion) available to manufacturers as a way of offsetting high start-up costs and providing assurance of demand.

The initiative will diversify the set of global vaccine suppliers with a target of at least four African vaccine manufacturers entering the market in a sustainable way.

Source: Emirates News Agency