BRUSSELS (Reuters), – In an effort to improve the continent’s vaccine and drug production and supply, the European Union and Gates Foundation announced a funding package to the African Medicines Agency.

Although the treaty establishing AMA entered into force on November 1, it is currently only paper-based. The agency will soon make decisions about its leadership and location.

The new agency needs technical and financial support in order to get started. This would provide a boost to the continent’s pharmaceutical and vaccine industry which requires a trustworthy regulator in order for it to thrive.

A person who is familiar with the plans told Reuters that the European Commission, France, Germany and Belgium will each invest over 100 million euros (or $1113.93 million), to help AMA and African regulatory agencies.

Official said that the objective is to enable these agencies achieve Maturity level 3 (which is what the World Health Organization, WHO) considers to be the minimum WHO requirement for regulatory oversight of local vaccine production quality).

According to slides from an internal EU Commission document, Reuters has seen, a portion of the money will come in grants, and the rest will go to European Medicines Agency.

The EMA is currently the continent’s only drug regulator. It will provide technical assistance through scientific collaboration, joint inspections and training to African counterparts.

After the COVID-19 outbreak exposed the vulnerability of the region, it was decided to set up AMA. The country produces just 1% of all vaccines and medicines used by the population of over 5%.

($1 = 0.8777 euros)