EU & Gates Foundation to invest 100 million euros in Africa drug, vaccine production

European Union and Gates Foundation will invest more than 100 million euros over the next five years to help set up an African medicines regulator to boost the continent’s drugs and vaccine production.

EU Commission announcement comes ahead of a summit on Thursday of EU and African Union leaders when the EU is expected to reiterate its commitment for a 150-billion-euro investment package in Africa.

A treaty establishing African Medicines Agency (AMA) came into force in November but the agency currently exists only on paper.

So far just over half of the 55 African Union member states have ratified the treaty setting up the regulator.

The funding for the AMA will come from EU Commission, Germany, France, Belgium and Bill & Melinda Gates Foundation.

Last week the president of the EU Commission Ursula von der Leyen said EU would mobilize 150 billion euros for Africa in coming years as part of its global investment strategy including the funding to AMA.