On the 11th of October, the European Commission, the European Investment Bank and the Bill & Melinda Gates Foundation announced the creation of a new financing partnership to eradicate polio. The expected €1.1 billion financing package aims to provide new funding to eradicate the disease and build up health systems globally, with the World Health Organization and UNICEF acting as implementing partners. Through several measures including childhood immunization and the strengthening of health systems, it is hoped that this terrible disease will be wiped out once and for all. Additionally, the strengthening of global health systems, alongside funding for globally and local vaccine and medicines production, is hoped to create a more responsive health system to deal with future health crises.

This funding is a pivotal component of the European Commission's European Fund for Sustainable Development plus (EFSD+), which can be segmented into two key aspects.

The first facet is designed to expedite progress in the eradication of the wild poliovirus. The partnership commits €500 million in support to the Global Polio Eradication Initiative, specifically channeling funds to the World Health Organization and UNICEF. These funds will underwrite polio vaccinations for nearly 370 million children annually, deliver essential healthcare services during polio campaigns, including measles vaccines and routine immunizations. It will also fortify healthcare systems to enhance their readiness and response to emerging health threats, akin to the successful response against COVID-19, Ebola, and other diseases. Presently, wild poliovirus remains endemic in just two countries—Pakistan and Afghanistan—while 80% of variant poliovirus cases are concentrated in only four subnational regions.

An additional €500 million is designated to enhance the innovation capabilities of healthcare systems in low- and middle-income countries. This entails allocating new funding to initiatives endorsed by the European Commission, like efforts to make healthcare innovations such as mRNA-based vaccines and therapeutics more accessible to populations in low- and middle-income countries, through Europe's global investment plan, the Global Gateway. Further discussions about increased healthcare investments worldwide will take place among global leaders and partners at the upcoming Global Gateway Forum scheduled for the 25th to 26th of October.
 

The specifics for the funding partnership can be found below:

• €500 million in new funding for the Global Polio Eradication Initiative 

• €500 million in investments and grants to ensure health innovations are more accessible, strengthen health systems and prepare for future pandemics: The Bill & Melinda Gates Foundation plans to provide €250 million of grants and investments to match a €250 million in investments made by the European Investment Bank and guaranteed by the European Fund for Sustainable Development plus.

• €80 million grants for Technical Assistance: The Bill & Melinda Gates Foundation expects to match €40 million in grants from the European Commission to provide technical assistance and ensure that global health programs achieve their full potential.