EU Leaders Join Forces to Create £6 billion Coronavirus Vaccine and Treatment Fund

European leaders have pledged to raise more than £6 billion to help find a vaccine and treatments for the coronavirus.

AN online pledging conference due to be held on Monday will aim to collect at least €7.5 billion (£6.6 billion) in funding to support the global response to the coronavirus pandemic.

The leaders of France, Germany, Italy, Norway, and senior EU officials said the outbreak had ’caused devastation and pain in all corners of the world.’ Interestingly, Spain has so far not motioned it is prepared to contribute towards the fund.

Leaders said responding to the ‘global challenge’ required ‘bringing together the world’s best – and most prepared – minds to find the vaccines, treatments, and therapies we need to make our world healthy again.’ This would accompany ‘strengthening the health systems that will make them available for all, with particular attention to Africa.

The politicians declared their support for the World Health Organisation (WHO) and backed the recent launch of the ‘Access to Covid-19 Tools (ACT) Accelerator.’ The ‘global cooperation platform’ aims to accelerate research, development, access, and distribution of a Covid-19 vaccine and other treatments, the leaders wrote.

‘This laid the foundation for a real international alliance to fight Covid-19,’ they added.

Money pledged through the online conference on Monday will make up a global funding ‘shortfall’ estimated by Global Preparedness Monitoring Board (GPMB) – an independent monitoring and accountability body that ensures preparedness for global health crises – and others.


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Written by

Tony Winterburn

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