New European-funded initiative set to increase Africa's vaccine production

Global leaders gathered in Paris on Thursday to launch a new initiative to increase vaccine production in Africa and address the large inequities that came to light during the COVID-19 pandemic.

The African Vaccine Manufacturing Accelerator (AVMA) is a new financial mechanism that will provide nearly €1 billion over ten years to support African vaccine manufacturers.

It was officially launched at a global forum co-hosted by France, the African Union and the international vaccine organisation Gavi.

The new funds will contribute to the African Union's goal of manufacturing at least 60 per cent of the continent's required vaccine doses by 2040, according to Gavi.

It is also meant to address the large inequities of the COVID-19 pandemic, where African countries struggled to access vaccines bought by richer countries.

While African countries represent nearly 20 per cent of the world's population, according to Gavi they produce just 0.2 per cent of the global vaccine supply.

The new funds will offset the high vaccine production costs, with higher incentives for manufacturers that produce priority vaccines such as those against malaria, cholera, and measles.

The European Union said on Thursday that member states would contribute more than €750 million to the AVMA, including nearly €220 million from the EU budget.

This makes EU countries the largest contributors to the financial instrument.

"Our decisions today and in the months ahead...will be deciding factors in determining whether we can look back from the vantage point of 2030 with pride and satisfaction or whether we will look back in anguish at missed opportunities and squandered potential," said José Barroso, chair of Gavi's board and former European Commission president in his