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World leaders pledge billions to help develop coronavirus vaccine

05/05/2020

World leaders pledge billions to help develop coronavirus vaccine

As the number of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) cases globally passes 3.5 million, world leaders have pledged more than $8bn (€7.3bn) to help with the development of a coronavirus vaccine and fund research into diagnosing and treating the disease.


The donations came from more than 30 countries, as well as numerous UN and philanthropic bodies and research institutes.


Pop singer Madonna was one of the donors, pledging $1.1m (€1m), while Norway matched the European Commission’s contribution of $1bn (€920m) and France, Saudi Arabia and Germany all pledged $500m (€458m). Japan promised to give more than $800m (€733).


Russia and the United States, which has suspended funding to the World Health Organization, were notably absent from the online summit hosted by the European Union (EU). Meanwhile, China, where SARS-CoV-2 originated in December, was represented by its ambassador to the EU.


The EU said that $4.4bn of the money raised will go towards developing a vaccine, $2bn on the search for a treatment and $1.6bn for producing tests.


In an open letter published in newspapers over the weekend, French President Emmanuel Macron and German Chancellor Angela Merkel said the pledged funds would “kickstart an unprecedented global co-operation between scientists and regulators, industry and governments, international organizations, foundations and healthcare professionals”.


“If we can develop a vaccine that is produced by the world, for the whole world, this will be a unique global public good of the 21st Century,” they added.


[Related reading: How long before there’s a coronavirus vaccine?]

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