EU to contribute €400m in guarantees to WHO-led COVID-19 vaccine initiative

FILE PHOTO: European Union flags flutter outside the European Commission headquarters, ahead of an EU leaders summit at the European Council headquarters, in Brussels, Belgium July 16, 2020. REUTERS/Yves Herman/File Photo

The European Commission said on Monday it would contribute 400 million euros ($476 million) in guarantees to an initiative led by the World Health Organisation to buy COVID-19 vaccines.

Countries wishing to be part of the WHO initiative, dubbed COVAX, had to submit expressions of interest by Monday.