Berlin, March 17 (TIWN) The German government has approved contracts worth 2.86 billion euros ($3.15 billion) for the procurement of Covid-19 vaccines until 2029.

The contracts with five companies grant long-term access to production capacities in the event that the pandemic continues, or a new wave emerges, according to a joint statement from the Ministry for Economic Affairs and Climate Action (BMWK) and the Ministry of Health (BMG).  The companies, BioNTech, CureVac/GSK, Wacker/CordenPharma, Celonic and IDT, are to receive an annual standby fee to ensure that these capacities are kept available, and that vaccine production can be ramped up quickly if necessary.