InnovFin EU programme contributes €64 million to new EU malaria fund
On 3 June 2020, the European Investment Bank (EIB), the European Commission and Investitionsbank Berlin (IBB) announced the first closing of their EU Malaria Fund. The major contributor to the Fund is the InnovFin EU programme funded by EU Horizon 2020 with an investment of an initial €64 million.
The fund aims to stimulate investments for feasible and affordable innovative solutions to prevent and treat malaria. The outstanding amount of €6 million is being provided by various national and private investors, including IBB and the Bill & Melinda Gates Foundation.
In total, the EU Malaria Fund is expected to bundle investments of €150 million. The instrument will finance companies through venture debt. The two first investments earmarked by the fund are expected to go to Italian AchilleS Vaccines and to Austrian Themis Bioscience GmbH.