Earlier today, at The Coronavirus Global Response event, donors committed €7.4 billion to accelerate the development of COVID-19 vaccines and treatment.
The event was co-chaired by The European Union, France, Germany, Italy, Spain, U.K., Norway, Canada, Japan and Saudi Arabia and attended by representatives from governments, philanthropic institutions and the private sector. This Funding will contribute to an immediate initial investment of €7.5billion to kick start the World Health Organization’s new ‘ACT’ initiative
Speaking after the event, Gayle Smith, President and CEO of The ONE Campaign said:
“We’ve seen great leadership today, especially from the European Commission who hosted the event and pledged over €1billion. That’s impressive. But this can only be seen as a starting point and we know this will be a long fight.
“We won’t be safe from this virus anywhere until we have beaten it everywhere. So as well as finding the medical solutions, we have to make sure they’re available to people around the world. It’s encouraging that leaders from around the world see the importance of this – but even more important that they match their words with actions. Equity has to be a pillar of the global approach to beat the virus.”
“The type of global response needed to beat this global pandemic is going to need even greater investment, from many more donors – and fast. When we’re faced with a virus that threatens everyone on earth, we can’t afford to be slow to invest in the science that offers the only viable exit strategy. The real question now is whether countries will act on the leadership and ambition shown today and continue to commit the resources needed to win the long-term fight.”