THE European Commission is to host a virtual global pledging conference on Monday to raise funds for efforts to develop a vaccine and treatments against the coronavirus.
European Commission President Ursula von der Leyen will host the online meeting of donors from Brussels beginning at 3 pm (1300 GMT).
The event is expected to raise at least 7.5 billion euros (8.3 billion dollars).
The funds will mainly be allocated to established international health organisations and research networks.
Participants will include German Chancellor Angela Merkel, French President Emmanuel Macron and United Nations Secretary General Antonio Guterres.
The fundraising drive aims to pool resources worldwide to develop a vaccine and effective treatments as quickly as possible and to make them universally available at affordable prices.
Merkel over the weekend promised a “significant financial contribution” from Germany, a figure dpa understands will likely lie somewhere in the hundreds of millions.
Pope Francis also backed the conference objectives on Sunday.
Despite recent promising developments, many researchers are not expecting vaccine to be ready for use at scale until at least next year. (dpa/NAN)
– May 4, 2020 @ 10:49 GMT |