Sustainable Health Industry for Resilience in Africa (SHIRA) to strengthen health security and resilience across Africa and address weaknesses highlighted by COVID-19
European Investment Bank and European development finance institutions mobilize private sector finance to improve health security and resilience
SHIRA Supports Wider Team Europe Initiative to Strengthen Manufacture and Access to Vaccines, Medicines and Health Technologies in Africa
The Presidents of the European Commission and the European Investment Bank seek to work with African partners Ursula von der Leyen, President of the European Commission and Werner Hoyer, President of the European Investment Bank, today presented a new initiative to strengthen financial and technical support to build health resilience and improve health care skills across Africa.
The Sustainable Health Industry Funding Platform for Resilience in Africa (SHIRA) will enable political and development finance partners to coordinate and strengthen health security and resilience in Africa.
SHIRA will support a wider engagement of Team Europe by leveraging private sector investment by providing long-term funding to increase investment in medical research, diagnostic and treatment facilities and local healthcare supply chains .
Under the new partnership, the European Investment Bank, European development finance institutions and other African and international partners will mobilize funding for new investments essential to improve access to affordable health care and share technical best practices to address healthcare weaknesses highlighted by the ongoing COVID-19 pandemic. .
“Europe and Africa stand side by side in the battle against COVID-19 and to build health resilience in the future. This new platform will support the Team Europe initiative on manufacturing and access to vaccines, medicines and health technologies in Africa, ”said Ursula von der Leyen, President of the European Commission.
“Increasing investments that strengthen health security is crucial to protect lives and learn lessons from the COVID-19 pandemic. The EIB has unique technical and financial experience in supporting vaccine development, public health and innovation around the world. This promising new program to strengthen the resilience of healthcare in Africa offers a clear path for working with African, European and international partners, ”said Werner Hoyer, President of the European Investment Bank.
The new SHIRA funding platform was announced at today’s World Health Summit in Rome, alongside other Team Europe initiatives to strengthen vaccine production, drug manufacturing and drug development. health technologies in Africa.
Health challenges highlighted by COVID-19
The COVID-19 pandemic has exposed obvious weaknesses in local vaccine manufacturing and pharmaceutical production capacity, leading to shortages and limiting access to health services in Africa. Limited funding for private sector investments further hinders the treatment and prevention of endemic diseases across Africa and access to affordable health products.
The Sustainable Health Industry for Resilience in Africa responds to the clear need to mobilize and enable private sector investments that build health security and resilience across the continent by developing manufacturing and supply capacities.
The new funding platform for health security and resilience in Africa was developed following in-depth discussions with African and European political and financial development partners.
Unlocking investments in healthcare, vaccine research and skills
The aim is to support new investments to improve health sector preparedness and response, strengthen vaccine production, diagnosis, treatment and essential equipment, including PPE and oxygen, improve development vaccines and specialist skills, and share best practices in digital e-health and telemedicine.
Long-term financing, investment grants, innovation support and technical assistance will help address investment challenges and unlock investments in health. It will make a significant contribution to the achievement of the Sustainable Development Goals, including SDG 3, ensure healthy life and well-being, SDG 10 to reduce inequalities, the industrialization of SDG 9 and the ‘SDG 5 gender equality.
European and African partners are expected to finalize details of the new initiative in the coming months.
The European Investment Bank (EIB) is the European Union’s bank owned by its member states. It makes long-term funding available for sound investments to help achieve the EU’s political goals and achieve the UN’s sustainable development goals in Europe and beyond. Active in around 160 countries around the world, the EIB supports projects aimed at reducing poverty and promoting climate action, economic resilience and gender equality.
Richard Willis, [email protected], Tel: +352 4379 82155, +352621555758
Website: www.eib.org/press – Press office: +352 4379 21000 – [email protected]