[Watch] Global Pledging Conference Raises €7.4bn for Coronavirus Vaccines


  • World leaders, with the notable exception of Donald Trump, stumped up nearly €7.4bn (£6.5bn) to research Covid-19 vaccines and therapies at a virtual event.
  • The pledged money will also be used to distribute any vaccine to poor countries on time and equitably.
  • The EU-convened virtual summit was addressed in person by the leaders of France, Germany, Spain, Italy, Canada, Japan, Jordan, Norway, Israel, South Africa and the EU, and took the form of a pledging marathon.
  • The money is largely designed to speed up the process by raising guaranteed funds to coordinate research and incentivise pharmaceutical companies to distribute any vaccines and therapies to poorer countries.
  • From the €7.5bn initially sought, €4bn is for the development of a vaccine, €2bn for treatments and €1.5bn for the manufacture of tests, according to the EU.

European Commission chief Ursula von der Leyen hosted a conference on May 4 to raise funds for research into coronavirus vaccines and treatments at which celebrities, world leaders and philanthropists pledged €7.4bn, reports the Guardian.

Pledge to COVID-19 vaccines

World leaders, with the notable exception of Donald Trump, stumped up nearly €7.4bn (£6.5bn) to research Covid-19 vaccines and therapies at a virtual event convened by the EU, pledging the money will also be used to distribute any vaccine to poor countries on time and equitably.

But in a sign of the fractured state of global health diplomacy, the event was not addressed by India, Russia or the US. After a weekend of persuasion, China was represented by its ambassador to the EU.

A separate Covid-19 summit was staged earlier in the day and addressed by the Indian prime minister, Narendra Modi, and other world leaders including the Iranian president, Hassan Rouhani.

‘A down payment’

The conference narrowly missed its target of €7.5bn — though a handful of contributors did not put a sum on their pledges — but UN secretary-general Antonio Guterres warned that much more would be needed, putting the final sum required near €38bn.

These funds are a kind of down payment for the development of new tools at the speed needed,” Guterres told the conference. “But to reach everyone everywhere we likely need five times that amount.”

World Health Organisation (WHO) chief Tedros Adhanom Ghebreyesus hailed the fundraising as a powerful show of “global solidarity”.

The donations came from about 40 countries, the UN, research institutes and philanthropic bodies including the Bill and Melinda Gates Foundation. But the initiative was undermined by the absence of the US, with President Donald Trump at loggerheads with the WHO over its handling of the pandemic.

Trump said on Sunday the US would have a coronavirus vaccine ready by the end of the year. His prediction was met with scepticism in some quarters, with Germany’s health minister Jens Spahn warning it could take years for anyone to develop a vaccine.

US ‘isolating themselves’

Some EU officials were disappointed the US did not take part.

The EU responded favourably to a call for global action, the US refused. They are the ones who are isolating themselves,” one official said. “We’re only at the start of the process. We hope the American government will join the common effort.”

A senior US official said Washington welcomed the telethon effort but insisted many of the organisations making pledges had already received substantial US support. The official called the EU event “one of many” and said Washington was “at the forefront of those international efforts”.

British Prime Minister Boris Johnson said the world “must work together to build an impregnable shield about all our people”, his Japanese counterpart Shinzo Abe urged the international community to “unite to overcome the crisis”.

French President Emmanuel Macron said it was vital that once a vaccine has been developed, it is treated as “global public property” with access available for “the whole of the planet”.

‘Vaccine war’

In March, Germany was forced to insist that the rights to coronavirus vaccine research were not for sale after reports Trump wanted the US to buy exclusive access to one being developed by a German biotech firm.

In recent days the Trump administration has stepped up pressure on China, where the outbreak began, saying it originated in a laboratory in the city of Wuhan. Without mentioning Washington, China implicitly hit back at the donor conference, where it was represented by its ambassador to the EU.

Multilateral co-operation in fighting the virus, confidence and solidarity are much more valuable than gold,” ambassador Zhang Ming said. “Panic and blame game are not useful at all.”

Isabelle Marchais of the Delors Institute think-tank said the US was ready to “put all its forces into the battle” to win a “vaccine war”.

In an analysis published on May 4, she said more than 100 vaccine research projects were going on, including eight clinical trials in the US, China and Europe.

Given the stakes in the current pandemic, some companies — particularly American and Chinese ones — are ready to start production before the end of clinical trials to be the first ones to get the vaccine to market,” she wrote.

Of the €7.5bn, €4bn will go on vaccine development, €2bn on the search for a treatment and €1.5bn for producing tests, the EU said.

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Source: Guardian


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