The European Union has allocated 1 billion euros to develop a vaccine against coronavirus. But to win over Covid-19 will require ten times more money

The European Union has allocated 1 billion euros for the development of vaccines against coronavirus

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European Commission President Ursula von der Leyen

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EU authorities have allocated 1 billion euros to Finance international efforts to develop vaccines against coronavirus. This was announced on may 4, Prime Minister Ursula von der Leyen at the opening of the international online conference, dedicated to raising funds to create a vaccine from Covid-19.

“I’m happy to run the ball, announcing that the European Commission makes its contribution to international efforts in the amount of 1 billion euros. The world will have to live with the coronavirus until there is a vaccine, so we have to join forces to create vaccines and diagnostic tools. We must ensure that these funds reached all corners of the world and was accessible to everyone. For this purpose we have to raise 7.5 billion euros, but this is just the beginning, today is the start of a long marathon fundraiser. We intend to amass numerous international organizations that will work to achieve this goal,” said Ursula von der Leyen (quoted by TASS).

However, according to the UN Secretary General, antónio Guterres, who also spoke at the opening of the conference, the creation of means for the treatment of patients Covid-19 and curbing the epidemic will require at least five times greater than the 7.5 billion euros.

It is assumed that the collection of money within the framework of the conference organized a number of countries, including the UK, Germany, Italy, Canada, Saudi Arabia and Japan, will last for two weeks. Partners of the conference were international organizations and foundations, including the world health organization (who), the bill and Melinda gates Foundation and the Global Alliance for vaccines and immunization.

Earlier, the European Commission has allocated 90 million euros for the development of vaccines and tools for diagnosis of the coronavirus. The Commission also chose to provide funding in the amount of 47.5 million euros for 17 projects in the sphere of combating the spread of the epidemic.

Note that on the creation of vaccines against coronavirus currently employs researchers from many countries, but this process takes time, and even at very successful coincidence of circumstances the first vaccines will not until next year.