NEW YORK (24 September 2024) – Today, on the sidelines of the United Nations General Assembly in New York, the European Union (EU) and the Bill & Melinda Gates Foundation announced they are developing a new financing mechanism to accelerate access to safe, effective and affordable contraceptives, maternal health medicines and other health products so more women living in low- and middle-income countries (LMICs) can better meet their needs.
The announcement was made following a meeting between European Investment Bank (EIB) President Nadia Calvino, European Commissioner for International Partnerships Jutta Urpilanen and Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation.
One new mechanism under discussion is with the United Nations Population Fund (UNFPA), the UN sexual and reproductive health agency. The mechanism is expected to reduce costs and address barriers to ensure more women can benefit from contraceptives and maternal health medicines. This will enable women to plan their families, improving women’s and children’s health and boosting communities and economies. Access to safe and voluntary family planning is a human right and will help reduce maternal ill-health and pregnancy-related deaths.
Currently, UNFPA works with governments to help low- and middle-income countries access contraceptives and maternal and child health medicines, but orders to support country plans can only be placed once donations are in the bank — even though more than 60 percent of donation commitments are multi-year. The new structure will be designed to front-load multi-year donation commitments and enable advanced planning, visibility and commitments to low- and middle-income countries, allowing for broader and more sustainable access to family planning products for women.
The funding mechanism is envisaged to be led by the EIB with the support of the European Commission. The mechanism will be supported by funding from the Bill & Melinda Gates Foundation to the UNFPA In-kind Partnership and will run for five years.
In addition, the EIB and the European Commission are developing a new financial guarantee of up to €170 million for gender and human development, providing for the bringing to market of a certain amount of new products and incentivizing investments to manufacture life-saving products at scale. This is part of a broader partnership between the European Commission, the European Investment Bank and the Bill & Melinda Gates Foundation to accelerate investments to improve health and nutrition in low- and middle-income countries through the global gateway initiative, the Human Development Accelerator (HDX).
Globally, more than 257 million women and girls who want to avoid pregnancy are not using modern contraception.1 Without additional resources, there could be a funding gap of $1.5 billion by 2030 for contraceptive supplies in low- and middle-income countries. Currently, more than 40% of low- and middle-income countries report that more than four in 10 service delivery points are experiencing stock-outs, and countries face long wait times for deliveries.
“Every woman around the world should have the right to plan her family, get an education and pursue her dreams,” said EIB President Nadia Calvino. “Having safe, affordable contraception makes this possible. We are proud to partner with the United Nations Population Fund, the European Commission and the Gates Foundation to reduce costs and barriers for women, giving them back control over their lives.”
Jutta Urpilainen, European Commissioner for International Partnerships, said: “Promoting gender equality is at the core of the EU’s external action. We are proud to invest in sexual and reproductive health products and services that enable women to reach their full potential and contribute to building inclusive and prosperous communities.”
“Too many women in low- and middle-income countries lack the contraceptive choices they want, and too little is being done to close the gap,” said Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation. “Leadership from European institutions will make a real difference in women’s lives and the health of entire communities and countries. When women are in control of their health and economic futures, everyone benefits.”
1 https://www.unfpa.org/swp2022/challenges
Global Gateway
Global Gateway is a European Union initiative to unlock investments and strengthen global connectivity through sustainable infrastructure projects. Launched in 2021, it aims to mobilize up to €300 billion by 2027 to fund programmes in strategic areas such as digital technology, climate and energy, transport, health, education and research. The initiative emphasizes a values-based approach, promoting environmental sustainability, social inclusion and democratic governance while strengthening trade and development links with partner countries.
Bill & Melinda Gates Foundation
The Bill & Melinda Gates Foundation is committed to the belief that every life has equal value and works to help all people lead healthy, productive lives. In developing countries, we focus on improving health outcomes and giving people the chance to lift themselves out of hunger and extreme poverty. In the United States, we strive to ensure that all people, especially those with the fewest resources, have access to the opportunities they need to succeed in school and in life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of Co-Chairs Bill Gates and Melinda French Gates and a Board of Directors.
Media Contact:
Gates Foundation: (email protected)
European Commission: Ana Pisonero; (email protected)
+32 2 295 43 20
