The European Union marked a major milestone yesterday with the launch of a new investment package supporting the expansion of Biovac’s vaccine manufacturing facility in Cape Town, South Africa.
EU Global Gateway investment strengthens vaccine manufacturing partnership with South Africa
The European Union marked a major milestone yesterday with the launch of a new investment package supporting the expansion of Biovac’s vaccine manufacturing facility in Cape Town, South Africa.
Backed by Team Europe, including the European Investment Bank, the European Commission, Proparco, and partners (the International Finance Corporation and the Industrial Development Corporation), the new €95 million financing package represents the largest investment in Biovac’s history.
The project is a flagship example of Global Gateway, Europe’s external investment programme, in action: investing in sustainable infrastructure, resilient value chains and high-quality jobs while building long-term partnerships based on shared priorities and mutual benefit.
Speaking during the launch ceremony in Cape Town, Chair of the European Parliament’s Foreign Affairs Committee David McAllister highlighted that the investment demonstrates “the impact of the European Union’s Global Gateway in Africa’s health security, as well as in building resilience and reducing dependencies.”