The head of the European Investment Bank Werner Hoyer said on Wednesday that the EU’s financial arm was ready to increase its support for the COVAX vaccine-sharing mechanism to 900 million euros ($1.1 billion) in loans.
The bank has already pledged 600 million euros in loans to the program which is co-led by the World Health Organization and Gavi, a vaccine alliance.
“We are ready to increase this by reorientation of another 300 million euros,” Werner said at a virtual fund raising event organized by the government of Japan and Gavi.
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