The European Commission will invest an additional 40 million euros (about 43.7 million U.S. dollars) in the development of the biopharmaceutical industry and local manufacturing of vaccines, medicines, and health products in Rwanda, Ursula von der Leyen, the commission’s president, announced on Monday.
The funds will benefit particularly higher, technical and vocational education and training, research and development, entrepreneurship, and supply chains, according to a Rwandan government statement.
The announcement was made following talks between Rwandan President Paul Kagame and von der Leyen on how to take the EU-Rwanda partnership forward.
The two discussed investment in areas including health, critical raw materials, the agro-food industry, climate resilience, and education.
Kagame said there is a need to reverse the continent’s heavy reliance on imported vaccines and medicines.
“We want to change this, and the long-term solution is to strengthen our manufacturing and scientific capacity. Again, the European Union (EU) has been very active in this, trying to support us in this development,” he said in the statement.
The financing will be made through the Global Gateway, Europe’s investment strategy for the world.
With the latest funding, Team Europe’s support to local manufacturing and access to vaccines, medicines, and health technologies in Rwanda amounts to roughly 94 million euros, according to the statement.
“On the global scene, the EU and Rwanda see eye-to-eye on many matters … Rwanda is also a key partner for Europe under Global Gateway, which is investing 150 billion euros in Africa,” von der Leyen said.
Rwanda, meanwhile, confirmed its interest to commence negotiations on an Economic Partnership Agreement with the EU and agreed to launch a process to scope the negotiations, according to the statement. (1 U.S. dollar equals 0.91 euros)
