Joint action against malaria: European Commission, European Investment Bank, and Investitionsbank Berlin inaugurate €70 million fund

©European Union, 2019, Source: EC - Audiovisual Service©European Union, 2019, Source: EC - Audiovisual Service

The European Commission, together with the European Investment Bank (EIB) and Investitionsbank Berlin (IBB), announced yesterday the first closing of their EU Malaria Fund, with an initial €70 million to support scientifically promising projects in the fight against malaria. The Commission and the EIB are investing an initial €64 million into the fund, which aims to bridge the gap between molecule and market for feasible and affordable innovative solutions to prevent and treat malaria. An additional €6 million is provided by various national and private investors, including IBB and the Bill & Melinda Gates Foundation. Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “We are joining forces with other investors to protect health and save lives. The new EU Malaria Fund is working with a total EU contribution of more than €110 million to boost research efforts and speed up market solutions against this preventable and deadly disease. This is an example of how key global players can come together to fight infectious diseases such as malaria and bring health technologies to those who need them most.” The major contributor to the Fund is the InnovFin EU programme funded by Horizon 2020, the EU Research and Innovation programme, and jointly managed by the Commission and the EIB. Part of the project is supported by the European Fund of Strategic Investments, the financial pillar of the Investment Plan for Europe. In this initiative, the Commission and the EIB partner to mobilise €500 billion in the European economy. More information is available in this EIB press release.