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Countries pledge over €7B for COVID-19 countermeasures, U.S. not included

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A Coronavirus Global Response event Monday that raised €7.4 billion ($8.1 billion) is “only the beginning,” EC President Ursula von der Leyen said, as government leaders spanning the globe from the U.K. to Canada and Japan committed to equitable global access to COVID-19 diagnostics, therapies and vaccines.

von der Leyen made it clear that governments, corporations and philanthropies will be asked to provide additional funding.

Funds raised included €1.4 billion from the European Commission. The U.S. and Russia did not participate; however, China which had not previously expressed support, pledged €45 million.

The amount of funding pledged and the access commitments are in line with estimates BioCentury reported on April 21 (see “World leaders -- Except U.S. and China -- Commit to Collaborate”; “Europe, Japan to Pledge $3B”).

The EC, which coordinated the pledging, did not differentiate between funds that were newly committed and money that was repurposed; €1 billion of the EC funding was repurposed from the EU’s Horizon 2020 research and innovation fund.

Gavi, the Vaccine Alliance, has announced a June 4 summit to raise additional funding for its mission to deliver vaccines to developing countries.

Further analysis of the coronavirus crisis can be found at https://www.biocentury.com/coronavirus.

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