- Vaccination campaign will benefit more than 2 million children in Ecuador.
- The loan will improve future pandemic preparedness, the long-term resilience of the healthcare system and the delivery of essential public health services.
- The project will help purchase vaccines and strengthen cold chain and logistics for distribution to remote areas.
European Investment Bank (EIB) Vice-President Ricardo Mourinho Félix today signed a $100 million loan to support Ecuador’s childhood vaccination campaign and cover the purchase of vaccines at a ceremony attended by Vice-President of Ecuador Alfredo Borrero.
In October 2021, Ecuador's Ministry of Public Health launched its Todo Campeón se Vacuna (Champions get vaccinated) campaign to promote childhood vaccination. This campaign is targeting over 2 million children.
The loan will support the entire vaccination campaign, contributing not only to the purchase of vaccines but also to strengthening cold chain and logistics for distribution to remote areas through the purchase of medical items and equipment, and medical IT tools. This financial support will improve future pandemic preparedness, the long-term resilience of the healthcare system and the delivery of essential public health services.
The loan will also help Ecuador to deliver its flagship Ecuador Crece Sin Desnutricion Infantil (Growth for Ecuador without child malnutrition) initiative, which includes child healthcare as one of its key pillars. It therefore forms part of the European Union’s Global Gateway Initiative in support of projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors.
EIB Vice-President Ricardo Mourinho Felix said: “I am pleased to confirm the EIB’s support for Ecuador’s childhood vaccination campaign. Immunisation is one of the most effective investments in global health. It is crucial for sustainable economic growth and to protect human health during infectious disease outbreaks. Investment in healthcare services plays an important role in empowering girls and women through the achievement of equal access to vaccines. This project builds on our strong track record of supporting high-impact investment in Ecuador and across Latin America.”
Background information
About the EIB:
The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB brings the experience and expertise of its in-house engineers and economists to help develop and appraise top quality projects. As an AAA-rated, policy-driven EU financial institution, the EIB offers attractive financial terms such as competitive interest rates and project-aligned loan durations. Through our partnerships with the European Union and other donors, we can often provide grants to further improve the development impact of the projects we support.
About EIB Global in Ecuador:
The EIB is the largest multilateral public bank in the world and financed around €10.8 billion in investments outside the European Union in 2022 via EIB Global, its specialised arm created in 2022 for activities outside the European Union. Ecuador is among the biggest beneficiaries of EIB financing in Latin America. Since the EU bank started working there in 2006, it has provided over €800 million to finance investments with favourable conditions — in terms of both maturity and interest rates — with the aim of improving the quality of life of Ecuadorians.
About EIB Global in Latin America:
EIB Global provides economic support for projects in Latin America by facilitating long-term investment with favourable conditions and by providing the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America in 1993, it has provided total financing of more than €13 billion to support more than 150 projects in 15 countries in the region.
About the Global Gateway initiative:
EIB Global is a key partner in the implementation of the EU Global Gateway initiative, supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, drawing on the Bank’s 60 years of experience. Alongside our partners, fellow EU institutions and EU Member States, we aim to support €100 billion of investment — around one-third of the initiative’s overall budget — by the end of 2027.
