CABEI approves €46.7 million loan to Cuba in support of the fight against COVID-19
To strengthen capacities in the development and production of medicines, medical equipment, diagnostics, and vaccines to combat COVID-19, the Central American Bank for Economic Integration (CABEI) approved the first financing to its extra-regional member country, the Republic of Cuba, for €46.7 million benefiting more than 11 million people through the production of 200 million vaccines against COVID-19.
CABEI Executive President Dr. Dante Mossi stated: “We celebrate this first approval of the Republic of Cuba, which we hope will be the first of many. This particular operation will contribute to face the health crisis through the development of vaccines that reduce the risk of people being infected by the COVID-19 virus and will also contribute to the economic reactivation of the country.”
One of the specific objectives of the Project to Strengthen the Cuban Biopharmaceutical Industry to combat COVID-19 in Cuba and in the region is to achieve higher levels of economic productivity through the development of innovative products of great importance in the context of the COVID-19 pandemic, and the modernization of technology, as well as diversification for the benefit of the National Health System and other countries in the region.
The loan also includes the strengthening of the productive infrastructure of the Cuban biopharmaceutical industry allowing a greater production of injectable antibiotics, parenteral solutions (serums), generic and biosimilar medicines, diagnostics, medical equipment and specific vaccines against COVID-19, as well as the acquisition of supplies and medical protection material to prevent contagion.
The Project will be handled by the United Nations Development Program (UNDP), which will carry out the project’s procurement in accordance with its procurement policies and regulations.
