Global vaccine initiative gets $8.8 billion boost

The online meeting beat a target to raise $7.4 billion to provide vaccines at a much reduced cost to 300 million children worldwide over the next five years.

Governments around the world on Thursday pledged $8.8 billion for global vaccines alliance Gavi to help immunisation programmes disrupted by coronavirus, prompting calls for global cooperation to ensure a potential Covid-19 vaccine is available to all.

More than 50 countries took part as well as individuals such as billionaire philanthropist Bill Gates, whose foundation pledged $1.6 billion. (Bloomberg)

The online meeting beat a target to raise $7.4 billion to provide vaccines at a much reduced cost to 300 million children worldwide over the next five years.

More than 50 countries took part as well as individuals such as billionaire philanthropist Bill Gates, whose foundation pledged $1.6 billion.

Gavi also launched a new initiative to purchase potential Covid-19 vaccines, scale-up production and support delivery to developing nations, which raised $567 million in seed money.

“Together, we rise to fulfil the greatest shared endeavour of our lifetimes—the triumph of humanity over disease,” said British Prime Minister Boris Johnson, who hosted the summit.

“Today we make the choice to unite, to forge a path of global cooperation.”

Scientists around the world are racing to develop and test a coronavirus vaccine and United Nations secretary general Antonio Guterres said it must be available to everyone.