The European Commission, the European Investment Bank, and the Bill & Melinda Gates Foundation have announced a financial collaboration to tackle global health issues like polio eradication and healthcare innovation accessibility. They will work with the World Health Organization and UNICEF to manage funds for polio eradication, childhood immunization distribution, and strengthening healthcare systems to respond to emerging health threats.

The €1.1 billion financing package aims to secure new funding for the eradication of a human disease, marking the second such event in history, while also addressing health and development challenges faced by the world's most disadvantaged individuals.

Ursula von der Leyen, the President of the European Commission, expressed,

"We stand on the brink of eradicating polio from the face of the Earth. The European Commission, in collaboration with the EIB and the Bill & Melinda Gates Foundation, is uniting to conquer the final mile. We will invest 1 billion euros, backed by our European investment strategy Global Gateway, to strengthen global healthcare systems and support the local production, manufacturing, and distribution of vaccines and medicines where they are needed most. Just as global cooperation was instrumental in ending the COVID-19 pandemic, it will now play a pivotal role in eliminating polio once and for all."

The European Commission's European Fund for Sustainable Development plus (EFSD+) is set to increase funding for global health and human development, with matching funding from the Bill & Melinda Gates Foundation, thereby enhancing the impact of every Euro contributed by the EU and the European Investment Bank.

“Today we are united to write the final chapter in the history of polio. The European Investment Bank is playing its part in a unique partnership with philanthropy and health partners, by providing EUR 500 million for investment in support of the Global Polio Eradication Programme. This initiative will be a milestone in scaling up immunization and strengthening healthcare, ensuring that every child, regardless of their circumstances, can be protected against polio,” said Werner Hoyer, President of the European Investment Bank.

In a determined effort to accelerate the eradication of wild poliovirus, this partnership is committed to disbursing €500 million in funding to support the Global Polio Eradication Initiative, with a specific focus on the World Health Organization and UNICEF. These financial resources will be allocated to provide polio vaccinations to nearly 370 million children annually. Moreover, they will facilitate the delivery of essential healthcare services to children in conjunction with polio campaigns, encompassing measles vaccinations and routine immunizations.

Additionally, these funds will be directed towards enhancing healthcare systems, improving their readiness to address and combat emerging health threats, drawing inspiration from the successful response of the polio program to challenges like COVID-19, Ebola, and other diseases. Presently, wild poliovirus remains endemic in just two countries, Pakistan and Afghanistan, with 80% of variant poliovirus cases concentrated in only four subnational regions.

“Thanks to medical innovations, the world eradicated one human disease – smallpox. We’re on the verge of ending another – wild poliovirus. I am committed to ensuring that no child, anywhere in the world, faces this awful disease. I am also optimistic that we will eradicate polio once and for all and make health innovations more accessible for everyone, particularly those in the poorest countries,” said Bill Gates, co-chair of the Bill & Melinda Gates Foundation.

An additional €500 million is earmarked to bolster the innovation capabilities of healthcare systems in low- and middle-income nations. This funding encompasses support for initiatives endorsed by the European Commission, which strive to enhance accessibility to healthcare innovations, including mRNA-based vaccines and therapeutics, for individuals in low- and middle-income countries. These efforts align with Europe's global investment plan, known as Global Gateway. Further investments in global healthcare will be a focal point of discussion among international leaders and partners during the forthcoming Global Gateway Forum scheduled for October 25-26.

“Thanks to the leadership and partnership of the European Commission and European Investment Bank, vaccines, medicines and other life-saving innovations should reach the people who need them most, making communities everywhere healthier. We know that when a community is healthy, economies grow,” said Melinda French Gates, co-chair of the Bill & Melinda Gates Foundation.

“Reaching un- or under-vaccinated children in the most remote and hardest-to-reach areas is essential for finishing the job of polio eradication,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “These new funds will not only help to drive us towards a polio-free world, but will also help to build more sustainable and resilient health systems to protect the same children and communities who are at risk of polio against the many other health threats they face.”

“Polio eradication is within reach, but the progress is fragile, and we must remain laser focused,” said UNICEF Executive Director Catherine Russell. “This new funding will help ensure that all children get vaccinated to eradicate polio, while strengthening community-based health systems. No child should suffer from an easily preventable disease.”

The anticipated components of the funding collaboration comprise:

• €500 million in fresh financing for the Global Polio Eradication Initiative (as previously described)
• €500 million in investments and grants designed to enhance the accessibility of health innovations, fortify healthcare systems, and enhance readiness for future pandemics. The Bill & Melinda Gates Foundation is set to contribute €250 million in grants and investments, matching an additional €250 million in investments secured by the European Investment Bank and backed by the European Fund for Sustainable Development plus
• €80 million allocated for technical assistance: The Bill & Melinda Gates Foundation anticipates matching a €40 million grant from the European Commission, aimed at delivering technical support to maximize the effectiveness of global health programs.

Global Polio Eradication Initiative

The Global Polio Eradication Initiative, a partnership between national governments, WHO, Rotary International, USCDC, UNICEF, the Bill & Melinda Gates Foundation, and Gavi, has successfully eradicated over 20 million cases of paralysis, prevented 1.5 million childhood fatalities, and reduced wild poliovirus prevalence by 99% since its inception in 1988. The initiative has reduced cases from over 350,000 in 125 endemic countries to just seven in two in 2023.