Ricardo Mourinho Felix, Vice President of the European Investment Bank signed in the presence of Alfredo Borrero, Vice President of Ecuador, a $100 million loan to support Ecuador’s paediatric vaccination campaign and cover the purchase of vaccines. 

The Ministry of Public Health of Ecuador launched in October 2021 the campaign “Every Champion Vaccine” to promote childhood vaccination. This campaign is aimed at more than 2 million children.

The loan will support the entire vaccination campaign, contributing not only to the procurement of vaccines but also to strengthening the cold chain and logistics for distribution in remote areas through the acquisition of medical items and equipment, and medical IT tools. Financial support increases preparedness for a future pandemic, long-term resilience of health systems and the ability to deliver essential public health services.

In addition, the loan supports Ecuador in the implementation of its flagship initiative “Ecuador Grows Without Child Malnutrition”, which includes child health care as one of its pillars, and is therefore part of the EU’s Global Gateway Initiative in support of projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

Ricardo Mourinho Felix, Vice President of the European Investment Bank, said: “I am pleased to confirm the EIB’s support for Ecuador’s paediatric vaccination campaign. Immunisation is one of the most effective investments in global health. It is crucial for sustainable economic growth and for protecting human health during outbreaks of infectious diseases. Investment in health services plays an important role in empowering girls and women through equal access to vaccines. This project builds on our strong track record of supporting high-impact investments in Ecuador and throughout Latin America.”

EIB - EU Ecuador

Notes to Editors:

About the EIB:

The European Investment Bank is the European Union’s long-term lending institution owned by its Member States. It provides long-term financing for sound investments in order to contribute to the EU’s policy objectives. The EIB brings the expertise and expertise of its in-house engineers and economists to help develop and evaluate projects of the highest quality. As an AAA-rated EU financial institution and driven by EU policies, the EIB offers attractive financial conditions: competitive interest rates and loan durations commensurate with projects. Through our partnerships with the EU and other donors, we can often provide grants to further enhance the development impact of the projects we support.

About the Global EIB in Ecuador:

The EIB is the largest multilateral public bank in the world and last year financed around USD 11.8 billion in investments outside the European Union thanks to the EIB Global, the financial arm created in 2022 for activities outside the European Union. Ecuador is one of the largest beneficiaries of EIB financing in Latin America. Since the EU bank started working there in 2006, it has contributed more than USD 875 million to finance investments on favourable terms — both in terms of terms and interest rates — with the aim of improving the quality of life of Ecuadorians.

About the Global EIB in Latin America:

The EIB Global provides financial support to projects in Latin America by facilitating long-term investments on favourable terms and providing the necessary technical support to ensure that such projects deliver positive social, economic and environmental outcomes. Since the EIB began operating in Latin America in 1993, it has provided total funding of around USD 14 billion to support more than 150 projects in 15 countries in the region.

About the Global Gateway initiative:

The EIB Global is a key partner in the implementation of the EU’s Global Gateway initiative, supporting strong 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 the EIB Global does and has extensive experience of 60 years. Together with our partners, other EU institutions and EU Member States, we aim to support investments worth around USD 107 billion, about one third of the overall envelope of the initiative, by the end of 2027.

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