World leaders pledge billions for vaccine research
BRUSSELS » World leaders, organizations and banks on Monday pledged 7.4 billion euros ($8 billion) for research to find a vaccine against the new coronavirus, but warned that it is just the start of an effort that must be sustained over time to beat the disease.
The funds, pledged at a video-conference summit hosted by the European Union, fell marginally short of the 7.5 billion euros being sought, but more money could arrive in coming days. Notably absent from the event was the United States, where more than 67,000 people have died, and Russia.
Despite the shortfall, U.N. Secretary-General Antonio Guterres said, the target being sought Monday to help find a vaccine, new treatments and better tests for the disease would only ever amount to a “down-payment” on the tools that will be needed to fight the virus.
“To reach everyone, everywhere, we likely need five times that amount,” Guterres said.
Governments have reported around 3.5 million infections and more than 247,000 deaths from the virus, according to a count by Johns Hopkins University. But deliberately concealed outbreaks, low testing rates and the strain on health care systems mean the true scale of the pandemic is much greater.
People in many countries across the globe, and notably in Europe this week, are cautiously returning to work but authorities remain wary of a second wave of infections, and a vaccine is the only real golden bullet to allow something like normal life to resume.
The original aim was to gather around 4 billion euros ($4.37 billion) for vaccine research, some 2 billion euros for treatments and 1.5 billion ($1.64 billion) for testing.
The pledges were hard to track, beyond coming in various currencies. Some countries announced money for their own national research efforts combined with those they would offer to international organizations. Others also proposed a mix of loans with their funding. Pledges made toward vaccine research since Jan. 30 were also counted.
Apart from many European leaders, heads of state and government from Australia, Canada, Israel, Japan, Jordan, South Africa and Turkey spoke at the event, along with China’s EU ambassador.
President Emmanuel Macron warned that “a race against time is underway,” as he donated 500 million euros on behalf of France.
Apart from many European leaders, heads of state and government from Australia, Canada, Israel, Japan, Jordan, South Africa and Turkey were also due to speak, along with China’s EU ambassador.
British Prime Minister Boris Johnson said that “the race to discover the vaccine to defeat this virus is not a competition between countries, but the most urgent shared endeavor of our lifetimes.”
Among the larger contributions, Japan pledged more than $800 million while Germany offered 525 million euros. Italy and Spain, perhaps the hardest hit by the virus in Europe, each said they would provide more than 100 million euros. Switzerland, the Netherlands and Israel also pledged 378 million euros, 192 million euros and $60 million, respectively.