Funding collected for development of a coronavirus vaccine – Finland pledges EUR 36 million
Ministry of Social Affairs and Health 4.5.2020 18.25
The European Commission and its partners have launched a pledging effort, the Coronavirus Global Response, to raise EUR 7.5 billion of funding to develop diagnostics, therapeutics and vaccines against the COVID-19 disease and to strengthen healthcare systems. Finland pledged EUR 36 million in the meeting that kick-started the global pledging effort on 4 May 2020.
On one hand, Finland’s pledge consists of funding granted earlier this spring to the World Health Organization (WHO) and to international vaccine research. On the other hand, it includes new funding pledges of EUR 2.5 million to the global vaccine alliance Gavi and EUR 10 million to increase humanitarian aid addressing the coronavirus pandemic.
The high-level meeting to launch the pledging effort was attended by leaders from a number of countries. Finland’s address in the meeting was delivered by Minister of Social Affairs and Health Aino-Kaisa Pekonen.
“It is important to ensure that vaccines, treatments and medicines for COVID-19 are made available globally, regardless of where they were developed,” Minister Pekonen said in her address.
The development of a vaccine against coronavirus requires high-quality research and funding. Normally, the process would take years. Developing a vaccine against coronavirus is expected to take at least one year, even though every effort is made to accelerate the process.
National funding will also increase
In addition to supporting global vaccine cooperation, Finland needs to reinforce domestic vaccine development and raise the level of vaccine research and expertise nationally so that we can stay abreast of global competition and, at best, ensure access to a vaccine in Finland.
Therefore, the Government has granted EUR 6 million to the Finnish Institute for Health and Welfare, mainly for the development of rapid diagnostic and antibody testing methods and for the monitoring of the effectiveness of measures to curb the spread of coronavirus.
In addition, the Government is preparing significant funding to support national vaccine research.