Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home » EU and global partners pledge EUR 7.4 bn to fund coronavirus vaccine

    EU and global partners pledge EUR 7.4 bn to fund coronavirus vaccine

    npsBy nps6 May 2020Updated:25 June 2024 Finance No Comments3 Mins Read
    — Filed under: EU News Headline1 Health
    Share
    Facebook Twitter LinkedIn Pinterest Email
    EU and global partners pledge EUR 7.4 bn to fund coronavirus vaccine

    Charles Michel – Photo EU Council

    (BRUSSELS) – The EU joined with global partners Monday to pledge EUR 7.5 billion in funding for the development of fast and equitable access to safe, effective and affordable diagnostics and vaccines against coronavirus.

    With the world desperate for the development of a vaccine for COVID-19, global leaders, including of Canada, France, Germany, Italy, Japan, the Kingdom of Saudi Arabia, Norway, Spain and the United Kingdom – though not the United States – joined forces in this effort to develop life-saving tools, with a crucial pledge that they be universally available and affordable.

    “Only a shared spirit of global solidarity and responsibility will defeat the COVID-19 crisis,” said the EU Council’s president Charles Michel: “This common spirit is our best defence against a virus that has devastated lives and communities in every corner of the globe.”

    M Michel said vaccines, treatments and therapies will be crucial for Europe. “But even more critical for our most vulnerable partners with fragile health systems, such as Africa,” he added. “They must be at the heart of our solidarity.”

    The countries were responding to an appeal from global health actors for global collaboration to accelerate development, production and equitable global access to new coronavirus essential health technologies.

    Researchers and innovators around the world have been working hard to find solutions to save lives and protect people’s health. Starting on the 4th of May, the Commission started registering pledges from countries and business foundations. At the same time, the EU executive also announced the next milestones of a global campaign, which is to kick off an ongoing rolling replenishment.

    The Commission announced a significant EU pledge – EUR 1 billion in grants and EUR 400 million in guarantees on loans through reprioritisation of Horizon 2020, RescEU, the Emergency Support Instrument and external instruments.

    The Commission is also inviting governments, business leaders, public figures philanthropists, artists and citizens to raise awareness about this global pledging effort. The funds collected will be channelled into three strands: diagnostics, treatments and vaccines.

    The countdown to the start of marathon began on the first day of the 2020 World Immunisation Week organised by the United Nations.

    The theme this year is #VaccinesWork for All and the campaign will focus on how vaccines, as well as the people who develop, deliver and receive them, work to protect the health of everyone, everywhere.

    The worldwide pledging effort – the Coronavirus Global Response – runs until the end of May.

    Further information about the effort and how to get involved on the Coronavirus Global Response website

    Coronavirus Global Response - background guide

    Add A Comment
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    Ukraine Recovery Conference - Photo © European Union 2025

    EU announces EUR 2.3 billion package for Ukraine recovery

    Bulgaria euro - Photo © European Union 2025

    Bulgaria takes its place as 21st member of the eurozone

    Investment - Photo by Anna Tarazevich on Pexels

    EU agrees on shorter settlement cycle for securities trading

    Brussels to postpone market risk prudential requirements under Basel III by one more year

    Euro dollar - Photo by cottonbro studio on Pexels

    Euro, US dollar dominate extra-EU trade in 2024

    Mînzatu - Dombrovskis - Photo © European Union 2025

    Competitiveness and security the focus of EU’s ‘spring package’

    LATEST EU NEWS
    Sustainable finance - Image by Nattanan Kanchanaprat from Pixabay

    Brussels eases corporate sustainability reporting requirements

    11 July 2025
    Tochytskyi - Micallef - Ukraine Recovery Conference - Photo © European Union 2025

    EU offers support for Ukraine culture and heritage

    11 July 2025
    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Poor GDP performance marks end of tough week for the Pound – Euro currency news daily

    11 July 2025
    Ukraine Recovery Conference - Photo © European Union 2025

    EU announces EUR 2.3 billion package for Ukraine recovery

    10 July 2025
    Ecommerce - Photo by AS Photography on Pexels

    Euro-Parliament moves to stop sub-standard products from outside EU

    10 July 2025

    Subscribe to EUbusiness Week

    Get the latest EU news

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Terms
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025

    Design and developed by : 

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?